Editors’ Note

Lily Ren was appointed Chief Executive Officer and President of Bank of China, U.S. Branches, in April 2026. As CEO & President, she is responsible for managing the Bank’s operations across its United States branches. Most recently, Ren served as General Manager of the Global Development Department at the Bank of China Head Office and prior to that, she served as President & CEO of Bank of China Australia. Throughout her career, she has held numerous senior leadership roles within Bank of China Group, including in areas such as; Financial Institutions, Human Resources, the Overseas Institutions Management, Corporate Banking and in the bank’s Singapore Branch. She holds a Master of Economics in International Finance from Renmin University of China and a Master of Business Administration (MBA) from the University of New South Wales, Australia. She is also a Chartered Financial Analyst (CFA) charterholder.

Company Brief

As China’s most international and diversified bank, Bank of China (www.boc.cn/en) has a well-established global service network with institutions set up across the Chinese mainland, as well as in more than 60 countries and regions. It has established an integrated services platform based on the pillars of its corporate banking, personal banking, financial markets, and other non-commercial banking businesses, which covers investment banking, direct investment, securities, insurance, funds, aircraft leasing, and other areas, thus providing its customers with a comprehensive range of financial services. Bank of China U.S.A. (BOC USA) (www.bocusa.com has branches in New York City, Queens, Chicago, and Los Angeles.

As you take the reins of CEO, how do you define BOC USA’s mission and goals in the coming years?

I view Bank of China U.S.A.’s mission as both enduring and forward-looking, to serve as a trusted financial bridge between the United States and China while supporting the broader needs of the clients, communities, and industries we serve locally. Over the past 45 years, our institution has helped facilitate trade, investment, cross-border financing, and economic cooperation between the world’s two largest economies. That mission remains highly relevant today, even as the global economic landscape becomes increasingly complex and interconnected. Looking ahead, our goals center on strengthening our position as a customer-centered, internationally focused financial institution that combines global capabilities with deep local expertise. At the same time, we are firmly committed to maintaining the strong governance standards, compliance culture, and disciplined approach that clients, regulators, and stakeholders expect from a leading global bank operating in the United States.

Beyond business growth, we also recognize the important role financial institutions can play in fostering long-term economic cooperation and connectivity. While global markets have become more volatile, we continue to believe that constructive engagement and mutually beneficial economic relationships create opportunities for innovation, investment, and long-term global prosperity. With deep roots in both markets, Bank of China U.S.A. is well positioned to support the flow of capital, products and ideas between the United States and China. At the same time, we will continue developing tailored products and services that align with evolving market trends and the changing needs of our clients. As global trade flows and cross-border business activity continue to evolve, we see continued opportunities to enhance efficiency, connectivity, and innovation across our banking solutions.

Ultimately, we recognize that success in banking is built on trust, discipline, consistency, and long-term relationships. We will continue putting our clients at the center of our business – creating sustainable value for local communities and ensuring our employees feel proud to call BOC USA home. As global markets continue to evolve, we believe institutions that can combine international capabilities with local understanding will be best positioned to help clients navigate uncertainty and capture new opportunities.

After 45 years in the United States, how would you highlight the Bank’s commitment to the U.S. market?

Our commitment to the U.S. market is reflected not only in the longevity of our presence, but also in the depth of our relationships and contributions over the past 45 years. Since reopening our operations in New York in 1981, Bank of China U.S.A. has steadily expanded its capabilities, talent base, and service offerings in support of both domestic and cross-border clients.

Today, over 90 percent of our employees are locally hired, over 90 percent of our clients are U.S.-based companies, and a substantial portion of our business is generated from the domestic market. This demonstrates that we are not simply operating in the United States, but are deeply integrated into the local economies and communities where we do business. Over the years, we have supported transformative commercial real estate developments, infrastructure projects, affordable housing initiatives, multinational corporations, financial institutions, and small and medium-sized enterprises.

Our long-term commitment is also reflected in our investment in talent development and operational excellence. We continue to place strong emphasis on attracting, developing, and retaining top talent, bringing together professionals with a wide range of industry backgrounds, global perspectives, and local market expertise, which we regard as one of our greatest assets. Operating successfully in one of the world’s most sophisticated and highly regulated financial markets requires a strong culture of transparency, governance, and risk management, and these principles remain central to our operations.

We also believe that economic cooperation is strengthened through cultural exchange and people-to-people connections. For many years, Bank of China U.S.A. has supported initiatives that promote financial literacy, cultural dialogue, charitable activities, and community partnerships. These efforts help foster mutual understanding and long-term trust. We view these contributions as an important part of building lasting relationships between the United States and China.

Looking ahead, we remain confident in the resilience of the U.S. economy and in the long-term value of the trade and investment relationship between the world’s two largest economies. We are committed to helping clients seize global opportunities while contributing to economic growth across the United States.

How does BOC USA leverage its global perspective and in-depth knowledge of the Chinese and U.S. markets for its clients?

One of Bank of China U.S.A.’s greatest strengths is our ability to combine global reach with deep local market expertise. As part of Bank of China’s global network spanning 64 countries and regions, we are uniquely positioned to help clients navigate the opportunities and complexities of cross-border business between the United States and China. Many of our clients are managing increasingly sophisticated international operations involving global supply chains, overseas investments, trade flows, treasury management, or market expansion strategies. Our role is to help simplify these processes by providing integrated financial solutions, cross-border capabilities, and informed market insights rooted in decades of experience in both markets.

For U.S. companies, China continues to represent an important yet complex market across sectors such as consumer goods, healthcare, agriculture, advanced manufacturing, clean energy, and technology. Meanwhile, Chinese companies continue to seek opportunities to invest, innovate, and expand in the United States. Because we understand the operational, regulatory, cultural, and financial considerations on both sides, we can help clients bridge gaps, manage risks, and identify opportunities more effectively.

We also continue to see growing interest in RMB-denominated products and settlement solutions as companies look for ways to reduce foreign exchange exposure, improve payment efficiencies, and diversify financing channels. As a leading RMB clearing bank with extensive cross-border expertise, we are well-positioned to help clients develop more efficient international treasury and financing strategies.

In today’s environment, clients value stability, reliability, and informed guidance more than ever. Our longstanding presence in both markets, combined with our global platform and local execution capabilities, allows us to support clients in periods of growth as well as in times of uncertainty and change.

How critical is it for BOC USA to invest in new technology and AI as it looks to the future?

Investment in technology and artificial intelligence is essential to maintaining competitiveness, strengthening risk management, and delivering the level of service clients increasingly expect from financial institutions. At Bank of China U.S.A., we have already made substantial, multi-year investments in digital banking platforms, cybersecurity infrastructure, intelligent monitoring systems, data management, and compliance technologies. These initiatives have improved transaction efficiency, strengthened fraud prevention and AML controls, enhanced operational resilience, and enabled a more seamless client experience. We intend to continue investing in the technologies that will shape the next era of banking, including AI-driven analytics, automation, and broader digital transformation initiatives.

Artificial intelligence presents significant opportunities across the financial sector. AI can help banks analyze large volumes of data more effectively, strengthen cybersecurity defenses, improve decision-making, optimize operations, and deliver more personalized client services. At the same time, we recognize that innovation must be balanced with responsibility. Strong governance, regulatory compliance, data security, model validation, and structured human oversight must remain central to the adoption of emerging technologies.

At the same time, we recognize that banking will always be a relationship-driven business. While digital channels continue to expand rapidly, clients still value trust, direct communication, and personalized service. Our objective is not to replace the human element, but to use technology to enhance accessibility, efficiency, and responsiveness while preserving the long-term relationships that define our business.

As the industry continues to evolve, institutions that successfully combine technological innovation with disciplined risk management and strong client relationships will be best positioned for long-term success. At BOC USA, we intend to remain among those institutions by investing thoughtfully, managing risk responsibly, and continuing to meet the evolving expectations of our clients and stakeholders.

What do you see as BOC USA’s responsibility to be engaged in the communities it serves?

We believe that a bank’s responsibilities extend far beyond providing financial services. As a global institution with a strong local presence, we view community engagement as an important part of our long-term mission and corporate culture. Over the years, we have supported the communities where we operate through affordable housing initiatives, financial education programs, charitable partnerships, mentorship opportunities, volunteer activities, and community development efforts. These initiatives reflect our belief that economic growth is strongest and most sustainable when it is inclusive and broadly shared.

We also encourage our employees to actively participate in civic and nonprofit organizations, helping strengthen the connection between the bank and the local communities we serve. Many of our employees contribute their time, leadership, and expertise to organizations focused on education, youth development, financial literacy, cultural exchange, and community empowerment.

In addition, we believe banks can play an important role in supporting the real economy through responsible financing. By supporting businesses, infrastructure projects, affordable housing, and local development initiatives, financial institutions contribute to job creation, economic revitalization, and long-term community growth.

As we look ahead, we are committed to being not only a trusted financial partner, but also a responsible corporate citizen dedicated to creating a positive and lasting effect in the communities we serve.

What has made the banking industry so special for you?

What has always inspired me most about banking is the opportunity to help connect people, businesses, industries, and economies, be that locally or across borders. Banking sits at the center of economic activity, and when done responsibly and effectively, it has the ability to support innovation, facilitate growth, and improve people’s lives.

Throughout my career, I have had the privilege of working with clients across many industries and observing firsthand how access to capital, financial guidance, and long-term partnerships can help businesses grow from local enterprises into global organizations. I have also seen how financial institutions can provide stability and confidence during periods of uncertainty and economic change.

What makes banking especially meaningful is that it is ultimately a people business. While technology, data, and financial products continue to evolve, trust and relationships remain at the heart of the industry. Building long-term relationships with clients, colleagues, and communities is something I have always valued deeply.

Banking also offers a unique perspective on the broader global economy. It allows us to witness innovation, international cooperation, and economic transformation in real time. Especially in today’s interconnected world, financial institutions have an important role to play in promoting collaboration, supporting sustainable growth, and helping businesses and communities adapt to an increasingly dynamic future.