CCB will Open Gold Trading Account for Individuals in China

　　China Construction Bank (CCB) will launch a new wealth management product on Feb. 28, 2005. CCB will open gold trading account for individuals. That is to say, CCB will provide a convenient way for CCB customers who invest in the gold market.

Gold trading account means, investors who open a specific account at any CCB outlet can buy and sell gold shares according to CCB’s rates. Investors gold share can be recorded in the gold trading account. Investors can buy gold share at lower price and sell it at higher price to make profit through the gold trading account without the need to make the transaction happen with gold at hand. After investors open the gold trading account that is similar to a gold deposit book, they can finish the transaction without the need to consider all issues such as storage, purity and weight and there is no the problem of trading fees. Only following the market trend, investors can make profits according to price difference.

With CCB gold trading accounts, investors can transact AU99.95 and AU99.99, with gram as the minimum unit and RMB Yuan/gram as the unit of quoted price. CCB will nail down the price in accordance with the gold price in the gold exchange center, market trend and international gold market tendency. And the trading prices will be strict within the range stipulated by competent authorities.   

CCB will draw upon the existing business system to process transactions of the gold trading accounts. This system is an integrated, advanced and secure working platform, established by making full use of CCB’s own network and advantages. This platform can provide all services, for example, investors can open a gold trading account to buy, sell, deliver and inquire related transactions via this platform. And the all process is finished automatically. All investors can enjoy a one stop service. Meanwhile, investors can invest fund, treasury bond and other products by using this system. And in this way, CCB can meet investors multi-needs when they invest and manage their wealth.

CCB launches this new service at more than 14,000 outlets throughout the whole country except Tibet. And in some regions, investors can access this business by logging onto online banking.