OREANDA-NEWS. October 03, 2011. Since January this year, ICBC continues spending efforts on the innovation in wealth management business, focusing on increasing product earnings and portfolio. Growth of asset management business is impressive. ICBC's wealth management products are very competitive in the market. Statistics show that ICBC has sold RMB 2.78 trillion of self-developed wealth management products during the first six months of the year, up 36.6% year-on-year. ICBC holds on to be the largest asset management bank in China, reported the press-centre of ICBC.

In wealth management business, ICBC has an offering encompassing 8 product lines: ultra-short wealth management, fixed-income investment product, investment product for securities, private equity investment, commodity investment, foreign exchange, special investment and value-added services. Investment range covers bonds, stocks, foreign exchange, commodity, derivative in China and overseas, in markets that cannot be reached by investors (interbank markets, overseas markets) for direct investment, markets (art products, private equity of unlisted companies) that cannot be easily understood by investors.

ICBC also makes aggressive move in product consolidation and innovation. In January-June period, ICBC rolled out a range of wealth management products which were warmly received. "Sophisticated • Win" - ICBC Global Growth, first quantitative investment product under the independent management of ICBC, allows investors to diversify investment across the globe by sharing the global growth earning, taking advantage of new technologies of the new stocks in the secondary market, growth of emerging markets, new profitability pattern. This is a new product for domestic investors who do not hold any FX asset. Besides, ICBC also rolled out "Happy Life I", "Happy Life II", wealth management products in RMB under welfare programs, "Insurance Highlight", a series of new value-added-type of investment product specially designed for private banking customers and high-net-worth customers to invest in painting, art products and equity investment products.

An executive with ICBC said, as ICBC gathering momentum in asset management business, ICBC wins the recognition from the market for its stable asset management service, good and standard wealth management products, risk disclosure, trust services. In the next step, ICBC will remain committed to the business philosophy of "trust, value, professional, innovation" to offer a full range of best-quality, rich, convenient asset management services to all customers.