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China Construction Bank – Head Office located in Beijing – was founded in 1954 following a decision of the state council of the People´s Republic of China. It is a state bank with the legal form of a public corporation of the People´s Republic of China. The Bank established a legally dependent branch in the Federal Republic of Germany in 1999, which counts as credit institution according to Par. 53 clause 1 German Banking Law (KWG). Business activities started September 15th, 1999. Purpose of business is the promotion of trade between Germany, Europe and China. The bank processes cashless payments via direct connection with the European clearing system (target 2) and also functions as clearing center for the whole bank in Europe.