[ET Net News Agency, 15 November 2018] Bank of China Limited (03988) announced that it
initiates to establish a wholly-owned subsidiary, Bank of China Asset and Wealth
Management Co., Ltd. (BOC AWM), with a total capital contribution of no more than RMB10
billion of the bank's proprietary fund.
The business scope of BOC AWM will cover (i) public offering of asset and wealth
management products to the general public, investment and management of funds entrusted by
investors; (ii) private placement of asset and wealth management products to eligible
investors, investment and management of funds entrusted by investors; (iii) advisory
service on asset and wealth management; and (iv) other businesses approved by banking
supervisory authorities of the State Council. (RC)