OREANDA-NEWS. July 02, 2014. ICBC has lately issued “Zeng Li” and “Zun Li” series wealth management products  to high net worth personal customers and corporate customers, effectively meeting diversified wealth management needs of customers through innovation in term arrangement,and redemption method among others.

According to an executive with ICBC, the “Zeng Li” and “Zun Li” series wealth management products, as compared with previous products, have the following five features.

First, convenience for purchasers. Customers can buy these products through internet banking during trading hours on work days. Second, flexible terms. Customers may choose among products with eight initial lock-up periods ranging from 40 days to 360 days. Upon maturity of such initial lock-up periods, customers may continue to hold the products for further investment until deciding to redeem them. The duration of investment is fully controlled by customers.

Third, continuous investment. Different from general wealth management products in which investment funds will be automatically transferred to demand deposit accounts upon maturity of such products, investors of the “Zeng Li” and “Zun Li” series products, once choosing not to redeem upon maturity of the initial lock-up period, can extend their investment. Fourth, strong flexibility. These two series of products can be redeemed at any time upon maturity of the initial lock-up period, and funds will be transferred to customers’ bank accounts on a T+1 basis, which can meet the liquidity demand of most customers, allow them to fully utilize interval time, and enhance the capital utilization efficiency. Fifth is supporting pledge. By applying for loans pledged with these products, customers can have their temporary funding needs met.

For retail customers, the minimum subscription amount for the “Zeng Li” and “Zun Li” series products is RMB 50,000 and RMB 500,000 respectively. Customers can complete purchase and redemption over bank counters, through internet banking or mobile banking, or at self-service terminals on work days. Customers with registered internet banking or mobile banking account can log on to ICBC’s personal internet banking via computers or mobile phones, and choose products with different terms under the “Purchase Wealth Management Products” option in the “ICBC Wealth Management” section. Customers may therefore have an early plan for funds and better management.