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ICBC Tops the Whole Market in Comprehensive Wealth Management Capability

Recently, the Banking Wealth Management Registration and Trust Center released the Assessment Report on Comprehensive Wealth Management Capability of Banks Nationwide (hereinafter referred as the “Report”). ICBC, edging ahead among 574 banks, tops the lists in terms of the comprehensive strength, issuance capability and investment capability.

According to the introduction, the Report, in compliance with the new regulations on asset management and detailed rules for wealth management, is the first assessment results after modification and improvement of the wealth management assessment system. The wealth management assessment system quantitatively evaluates banks’ wealth management products, covering 56 indicators from six aspects such as issuance design, investment operation and risk control, etc., to generate the assessment results on banks’ comprehensive wealth management capability. According to the Report, despite the impact of the new regulations on asset management, ICBC still performs well in product offering and issuance, which is the primary reason for ICBC topping on the list.

As informed by an ICBC official, ICBC is now speeding up the transformation for asset management in a multi-dimensional manner covering all platforms, all products and all procedures, integrating its asset management advantages, and vigorously building up the overseas asset management platform to further implement the mega asset management strategy. As at the end of September, the balance of ICBC’s wealth management products surpassed RMB3 trillion. The product system in conformity with the new regulations has been established, further consolidating its position as the largest asset management bank.