Strategy
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.