Bank of China's private banking arm has launched a fund product to its clients, the first of its kind in China. The bank said, in a statement, that the minimum subscription for the product is CNY2 million ($270,000), and the number of investors will be limited to 50. Earlier in the year, Bank of China launched a private banking joint venture with Royal Bank of Scotland to focus on high net worth Chinese individuals with over $1 million in investable assets.