OREANDA-NEWS. September 04, 2014. In future, customers are able to inquire ICBC wealth management product information anytime with their smart phones as ICBC has further expanded their wealth management product information disclosure channels to smart terminals including iPhone, iPad and Android. ICBC has now established its wealth management product disclosure network primarily based on its portal website, internet banking and outlets, and supplemented by multiple notification approaches, extending to smart terminals such as iPhone and Android, which marks the complete coverage of ICBC’s wealth management product disclosure channels.

According to an executive with ICBC, the disclosure system went alive last July and has obviously improved the disclosure of wealth management product information from various aspects including disclosure frequency, content and approaches. At present, customers may not only check disclosed wealth management product information under the column of “Wealth Management Product Information Disclosure” on ICBC portal, but also access ICBC internet banking or mobile banking to check disclosed information on their wealth management products holdings by clicking “Information Disclosure” under the column of “My Wealth Management Products”.

By product type, ICBC wealth management product information disclosure has covered all types of wealth management products for personal, private, corporate, pension fund and asset custody customers. It has also realized categorized displays in the column of wealth management product disclosure on the home page of ICBC portal, facilitating customer inquiries and further improving customer experience.

In terms of disclosure frequency, ICBC wealth management product information disclosure has covered the entire process of all products from inception till maturity. All products have detailed product manuals before inception, inception reports at inception, regular reports in duration, maturity reports after maturity and interim reports in case of interim material or risk events. Through ex ante, concurrent and post-event information disclosure, the transparency of wealth management product information disclosure has been further enhanced.

In respect of disclosure content, ICBC has made disclosure more detailed by not only disclosing basic information but also focusing on information about investment operation of wealth management products, customers’ biggest concern, especially disclosure of non-standard creditor’s asset details required by the CBRC’s No. 8 Document, to fully cover product investment management information. In addition, consistent disclosure on details and quality of assets invested by wealth management products has increased the coherence, completeness and adequacy of information available to customers.