The old Bank of China building, which was completed in 1950, is 6.5 metres taller than the HSBC Headquarters Building in Hong Kong, following the shape of the Bank of China Headquarters on the Bund of Shanghai. This was the headquarters of the Bank of China in Hong Kong. After the opening of the New Bank of China Building in 1990, it was used by the Bank of Xinhua. In 2001, Bank of China Hong Kong restructured its Chinese-funded banking business in Hong Kong, merged with Xinhua Bank, and then changed its original name.