China Post Savings Bank's wealth management subsidiary approved for opening
- Published: December 06, 2019
- Source: Postal Savings Bank
Recently, China Postal Savings Bank received the "CBRC's Reply on the Opening of China Post Financial Management Co., Ltd." and the China Banking Regulatory Commission has approved the opening of China Post Financial Management, a wholly-owned subsidiary of China Post Bank.
According to the approval of the China Banking and Insurance Regulatory Commission, China Post's wealth management registered capital is RMB 8 billion and its registered place is Beijing. It is mainly engaged in the issuance of asset management related businesses such as public offering of wealth management products, private offering of wealth management products, wealth management consultants and consulting.
In recent years, the Postal Savings Bank has closely focused on the three tasks of serving the real economy, preventing and controlling financial risks, and deepening financial reforms. It has insisted on serving the real economy and serving the general public. It has accelerated the transformation of its asset management business, continued to enrich the allocation of major assets, and built up The diversified product system oriented by customer needs has realized the stable and sustainable development of wealth management business, which has played a positive role in the high-quality economic development and the increase of property income for customers.
The establishment of China Post Financial Management is an important measure for the Postal Savings Bank to strictly implement regulatory requirements, promote the healthy development of wealth management business, and promote the return of asset management business to its roots. As a wholly-owned subsidiary of Postal Savings Bank, China Post Banking will serve the strategy of large-scale retail banking of Postal Savings Bank, adhere to the service tenet of “trusted and manage wealth management for customers”, adhere to the main line of innovation and development, and create customer trust and value. Excellent professional brand. Its establishment and operation will promote the standardized, professional, and characteristic development of wealth management services, assist financial structural reforms on the supply side, and help PBC to enhance its ability to support the real economy, practice inclusive finance, and better meet the growing demands of society as a whole. Diversified financial needs.
In the next step, Postal Savings Bank will strictly implement relevant procedures in accordance with regulatory requirements to promote the operation of China Post Financial Management as soon as possible.