Banks' wealth management introduces multiple new cross-border investment businesses, expanding channels for global asset allocation.

The channels for bank wealth management companies to participate in global asset allocation are further expanding. The Securities Times reporter learned exclusively from the industry that as one of the first three bank wealth management companies, CCB Financial Management, ICBC Wealth Management, and CMB Wealth Management officially obtained the Bond Connect "Southbound Connect" trading qualification at the end of last year, which actually happened before insurance institutions. In addition, there was recently good news for bank wealth management companies in cross-border investment business - they were first introduced to the interbank foreign exchange market and completed the first transaction of wealth management funds in that market on June 16th. A senior professional from a bank wealth management company told the Securities Times reporter that in the current low interest rate environment, the enthusiasm for global asset allocation by asset management institutions is increasing, but the current channels for funds to go abroad are limited. The further expansion of channels for global asset allocation of wealth management funds will not only help enrich the variety of wealth management products, but also promote the internationalization of the RMB.