CMBC Enlarges Asset Management Business

2007-8-13

Shi Chaoge  China Securities

CMBC says it will enlarge the asset management business and will safely keep all assets appointed by the clients based on “separation of safe keeping and management” principle, the appointment of the clients and relying on the bank’s management technology platform.　

As we have learned, CMBC's “Asset Management Expert” has finished updating and been online. The new system is an integration of CMBC online banking and capital allocation, able to meet the needs in asset management, clearing and the requirements on timeliness. The updated system will build a platform to better integrate the commercial bank with the currency market, the bond market and the capital market.

Other services including CMBC securities dealers in management of assets, trust assets, enterprise annuity and corporate financial management are under development. It can be seen that CMBC is directing its asset management to cover all types of businesses.

The CMBC officials say under the circumstance of multi regulation and diversified needs coexisting, through the asset management platform, CMBC is able to increase bond issuing and underwriting, financing, asset securitization and comprehensive management of finance so as to meet all kinds of requirements and lay down foundations for a mixed operation for the future.

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