Such products refer to an agent business in which BOCOM sells RMB wealth management products to corporate customers and through which the capital pooled together from customers will be invested in fixed-income products in the inter-bank market, giving the customers the returns on investments in the fixed-income products for a service charge.
RMB wealth management products for corporate customers are sold in collective and individual basis. Selling in collective manner means standardized wealth management products with pre-determined amount will be sold to the customers over a specified sales period. Selling in individual basis means that BOCOM can customize capital utilization solutions for customers whose capital reaches a specified amount.
Such products enable the customers to better utilize idle capital in order to improve returns through investment.
Conditions for application
(1) Applicants must be incorporated legal persons that are enterprises or non-profit institutions with a legal, stable source of capital and whose applications must be pre-approved by the State Administration for Industry and Commerce or the relevant organizations.
(2) The minimum subscription amount, on collective basis, is 1 million RMB, with an integral increase of 1 million RMB. If on individual basis, the minimum amount of 10 million RMB is required, with an integral increase of 2 million RMB.
For purchases in collective basis :
(1) Open a BOCOM fund settlement account with sufficient capital deposited in it;
(2) Then purchase a standardized wealth management product from BOCOM;
(3) Sign Agreement of RMB Wealth Management for Corporate Customers with BOCOM.
For purchases in individual:
(1) Open a BOCOM fund settlement account with sufficient capital in it;
(2) Submit Letter of Intent to purchase RMB Wealth Management for Corporate Customers to BOCOM, specifying the period, price and interest rate of the product to be bought;
(3) Depending on the actual investment, sign Agreement of RMB Wealth Management for Corporate Customers with BOCOM.