OREANDA-NEWS. December 17, 2013. ICBC has lately launched its wealth management product disclosure system with upgraded service in terms of disclosure frequency, content and method.

The integrated online platform enables standard, electronic and transparent management of the bank’s  wealth management product disclosure, which effectively improves internal control, further ensures punctuality and availability of disclosure to customers, and protects investors’ interests.

ICBC has consistently observed regulatory requirement by focusing on system building, mechanism establishment and fundamental management regarding wealth management product disclosure, said an executive with the Bank. All information disclosed to customers is true, accurate, timely, complete and compliant to laws. With the new system installed, ICBC’s wealth management product disclosure service is improved in three aspects:

I. More frequent disclosure during the valid period of the products. Currently, disclosure of details on ICBC wealth management products covers the entire period from inception of the product to maturity. Prospectuses are available before inception of the products, along with inception report upon inception, periodical reports in duration, maturity report at maturity or termination of the product, as well as ad-hoc reports in case of material/risk events. Transparency is ensured by ongoing information disclosure "before, during and after the event".

II. More comprehensive coverage of product investment and management information. Disclosure of details on ICBC wealth management products includes not only basic product information, but also most interesting investment information in duration of the products including 1. Details on investment portfolio - bond (standard investment) and credit assets (non-standard investment) according to No.8 document of CBRC (China Banking Regulatory Commission). Details on invested assets during the duration of the products are available to customers. 2. Full details on the structure of investment portfolio in duration of the product, such as the tenure of highly liquid assets and ICBC credit rating on credit assets to fully inform customers of the quality of the wealth management product 3. Continuous disclosure of details on investment portfolio. Customer are better informed with reports provided at the inception, duration and maturity of the product.

III. Broader access to disclosure. Besides direct access such as ICBC portal website, internet banking and outlets, ICBC provides individualized notification on product disclosure as required by customers. Investors may enjoy better experience by checking information on the ICBC wealth management products anytime and anywhere.