CCB Wealth Management, a wholly owned subsidiary of the Construction Bank of China, celebrated its opening in Shenzhen on Monday. Established in May with a registered capital of RMB15 billion, the new entity is set to take over management of the bank’s RMB2.2 trillion in wealth management products.
According to Shenzhen Mayor Chen Rugui, the bank’s choice of Shenzhen to establish its first nationwide wealth management subsidiary is significant for the city’s development. Moreover, CCB Wealth Management will effectively boost the development of financial services throughout the entire Greater Bay Area as well.
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