Funds Sold by CCB as the Agent Bank Hit a Historical High 

Funds sold by China Construction Bank (CCB) as the agent bank enjoyed a rapid development in 2004. The fund volume and amount exceeded the total volume and amount of previous years. And this achievement help CCB establish a nice public praise in the fund market.  

In recent years, China saw a sound development of macro economy and a dull stock market, which laid a sound environment for fund development and provided a value-added room for new funds to be invested. And under this situation, open-ended funds became a spotlight in the eye of investors. In view of funds hot sale, CCB followed this trend: in 2004 the number of funds sold by CCB as the agent bank increased to 24 from 10 at the end of the previous year; the total volume rose to RMB 30.855 billion from RMB 13 billion; fund management companies cooperated with CCB increased to 10 from 5; and customers who bought funds from CCB outlets exceeded 900,000.

CCB can enjoy a nice public praise. Why? First of all, CCB introduced the ‘Product Strategy’ to cooperate with good fund management companies and sell good fund products to ensure a good return from fund investment. Since the first sale of open-ended funds as the agent bank in 2001, CCB has cooperated with Huaxia Fund Management Co. Ltd, Boshi Fund Management Company, Fortune SGAM Fund Management Co. Ltd, Yinhua Fund Management Co. Ltd and other strong fund management companies. Secondly, CCB strengthened the cooperation with fund management companies and continuously made fund products innovation. In 2003, CCB became the first bank to collaborate with joint venture and successfully acted as the agent bank to sell Huabao Baokang Series. In 2004, in order to meet investors needs of guaranteeing principal and steady growth, CCB cooperated with Yinhua Fund Management Co. Ltd and launched the first principal guaranteed fund as the agent bank. Only within 9 days, the sales amounted to RMB 5,679 million. Thirdly, CCB sufficiently drew upon CCB’s professionals and network to offer investors quality services. Through training, market tracking research and other leverages, CCB strengthened all staff’s market awareness and serving sense. In this way, CCB improved securities practitioners professions in terms of understanding competent measures, market insight and marketing. CCB used the integrated securities services system throughout the whole bank and 14,000 outlets across the country to provide a fast and convenient service.

In the new year, CCB will continue to uphold the philosophy of ‘Product Strategy’ to try its best to develop and research new products cooperated with fund management companies. CCB will follow the market trend to launch new funds at the right time to meet customers needs.