Press "Enter" to skip to content

China’s Big Four state banks all announced wealth management units

China's Big Four state-owned banks have all announced plans to set up wholly-owned wealth management subsidiaries, bringing the total number of banks with independent wealth management units to nineteen.

The wealth management subsidiary of the Industrial and Commercial Bank of China (ICBC) will be established with a registered capital of 16 billion yuan, while the subsidiary of the Agricultural Bank of China (ABC) will have a registered capital of 12 billion yuan, the two companies said in separate statements filed with the Shanghai Stock Exchange.

"The business scope the subsidiaries include public offering . . .

To continue reading, please subscribe.

FREE TRIAL

We highly value independence. Yuan Talks is solely funded by subscriptions from thousands of intelligent readers like you. 

What you'll get:

  • Systematic, timely and data-driven reporting on China's economy and financial markets with details, data and perspectives you don't read elsewhere!
  • Daily Brief newsletter delivered before market open every weekday wrapping up the most important China-related stories.
  • Weekly Market Wrap-up on A shares, Chinese bonds, the Yuan and commodities!
  • Interviews with China experts. We find you insights you should never miss!
  • Conference calls and events. Nothing is better than talking to newsmakers, experts and reporters directly, right?

 

Already have an account? Sign In

Top