Strategy

Major Chinese Bank to Move into Wealth Management

Stephen Harris 29 October 2007

Major Chinese Bank to Move into Wealth Management

The Agricultural Bank of China is to extend services to private wealth management and investment banking. Bank president Xiang Junbo told a conference in Beijing that the bank will introduce a basket of tailor-made products, including financial futures, mutual funds and facilities to allow qualified domestic investors to buy stocks abroad. Agricultural Bank has 25,000 outlets and holds 12 per cent of China's $4.7 trillion of banking assets.

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