• Bank Of China average gross margin for 2023 was 47.57%, a 8.11% decline from 2022.
• Bank Of China average gross margin for 2022 was 51.77%, a 0.73% decline from 2021.
• Bank Of China average gross margin for 2021 was 52.15%, a 3.27% decline from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.