Bank of China (Hong Kong)
The restructuring saw all operations of the Mainland-incorporated group members merged into Po Sang Bank, which was then immediately renamed Bank of China (Hong Kong) Limited. Hong Kong incorporated Nanyang Commercial Bank and Chiyu Banking Corporation became subsidiaries of Bank of China (Hong Kong) Limited. Legislation was required for the merger, as Hong Kong does not allow mergers via the pooling of interests, a common procedure in the United States. The "Bank of China (Hong Kong) Limited (Merger) Ordinance" was approved by the Legislative Council of Hong Kong on 12 July 2001, and the merger was completed on 1 October 2001.