The product was launched by a BlackRock-CCB joint venture, the first foreign-controlled institution that was approved to take part in private pension pilot trials.
April 28, 2022State-owned banks including BOC, CDB, ICBC and CCB were fined a total of USD 13.8 million for data quality and reporting issues.
April 5, 2022The pilot scheme began in September with 4 domestic banks being allowed to offer retirement wealth management products in four cities.
March 2, 2022BlackRock CCB Wealth Management will be able to launch retirement WMPs in Guangzhou and Chengdu for a one-year trial period.
February 15, 2022The banks will pilot new wealth management products across four selected cities to help address China's retirement savings gap.
December 1, 2021The new framework seeks to strengthen financial resilience rather than require banks to raise additional capital, APRA says.
November 30, 2021ICBC (Asia), UBS, CCB (Asia) and CTBC Bank were fined a combined HK$44.2mn for deficiencies in customer monitoring, periodic reviews and due diligence.
November 22, 2021Eleven banks, including seven that are state-owned, are asked to explain how they plan to address capital shortfalls.
September 13, 2021The wealth management JV is 50.1% owned by BlackRock, 40% by China Construction Bank's wealth management subsidiary, and 9.9% owned by Temasek.
May 14, 2021A CCB Asia sales executive secured a loan for a customer whose data was obtained from a DBS sales executive in exchange for a commission.
May 13, 2021