Sunshine Wealth Management, the Winner of Two Awards
The wealth management products of China Everbright Bank (CEB) in local and foreign currencies won annual wealth management awards conferred by Sina and Sohu, the two biggest web portals in China:.
The URL for the result of Renminbi Wealth Management Contest held by Sina:
At the 2005 Bank Wealth Management Products Online Contest jointly organized by Sohu and Imoney, Sunshine Wealth Management ¡°Plan A+¡± and ¡°Plan A¡± USD products won first prize as the ¡°Most Popular Bank Wealth Management Products¡±
The contest of ¡°2005 Bank Wealth Management Products¡±, jointly organized by Sina and Money Weekly, was successfully concluded on January 10th, 2006. China Everbright Bank (CEB) came out on top and won two prizes, ¡°the 2005 Bank Renminbi Wealth Management Product Award¡± and ¡°the 2005 Bank Foreign Currency Wealth Management Product Award¡±. This is another important honor of CEB after the Sunshine Wealth Management Plan A+ and Plan A won the first prizes at Sohu 2005 Renminbi and Foreign Currency Wealth Management Products Contest, signifying that Sunshine Wealth Management has become an outstanding brand in the industry.
The winners of Sina Wealth Management Products Contest were determined by internet users and experts; participants voted on Sina web portal, casting objective and fair votes on candidates which included all bank wealth management products in the domestic markets. By using advanced online monitoring technology, Sina ensured that each IP address was allowed to cast only one vote, so that the nominating process was standardized. The Contest was of great appeal to a broad range of participants; hence, the results were authoritative. Through the casting of votes by internet users and assessments made by experts, Sunshine Wealth Management of CEB gained victory over another wealth management award, which signifies the unanimous recognition of the Sunshine brand and its products by customers and experts. Sunshine is well on its way to be a renowned brand in the financial industry.
In recent years, the banking industry has continued to promote products and services innovations, launch many new wealth management products that closely relate to customers¡¯ everyday life, enrich the financial market and provide more investment options for the public. Especially, as the bellwether of the flock and harbinger of the domestic wealth management market, CEB took the lead in launching the local and foreign currencies wealth management products ¨C Plan A and Plan B in 2004. Since then, CEB has been dedicated to putting forward innovative products and providing quality services in response to the changing market demands. Since last year, CEB launched the very first education-focused wealth management product ¨CSunshine Plan E, as well as Plan A+, featuring Renminbi investment and USD returns. These products greatly enriched the product line of Sunshine Wealth Management and fortified the market image of ¡°innovation is our priority¡±.
Especially, Plan A+ is worth mention. The Plan was launched last year when the wealth management sector was under tremendous pressure and was experiencing a slump: the wealth management market was seeing ever-more fierce competition, ¡°game rules¡± were just put into place by the government¡¯s regulatory department, and the excess reserve ratio was adjusted downwards. By applying the Quanto rules, the Plan sets Renminbi as the underlying transaction currency of the principal; through swap transactions, returns are linked with underlying assets and derivatives of the international financial market, and are realized based on the actual performance of basic assets or basic transactions and relevant agreements. When the Plan matures, CEB returns the principal denominated in Renminbi and pays returns in USD to the investor. CEB guarantees that the principal suffers no loss. In the context of a sluggish investment market and the domestic financing market short of effective wealth management products, CEB effectively provides investors with more investment options and channels, easily realizing the dreams of many investors to invest in Renminbi and receive returns in USD. At the same time, CEB brought domestic personal wealth management to a new level.
CEB deserves the wealth management product awards it received at the beginning of the year from Sina and Sohu, the two major web portals in China. Statistics show that, in 2005, the sales of Sunshine wealth management products reached a total value of RMB30 billion. Compared with those of 2004, the sales of 2005 rose by nearly RMB13 billion, an increase of 80%. Thanks to the popularity of Sunshine Wealth Management products, total savings deposits of CEB had reached more than RMB75 billion by the end of 2005, and the increase in savings deposit accounted for almost half of the increase in other general deposits. At the same time, the product image and popularity of Sunshine Wealth Management has been greatly boosted, expressions such as ¡°Want wealth management? Choose CEB¡±, ¡°Come to CEB for good wealth management¡± and ¡°Wealth Management by CEB, Sunshine Helps All¡± get widely accepted by clients. CEB has maintained its leading position in wealth management market in terms of both market share and product reputation, and has basically shaped its image as a wealth management bank and excellent bank.
As the bellwether of the wealth management market, CEB has strong capability and rich experiences in developing new products; its innovativeness and brand advantages are widely recognized by the industry. With regard to the future development of Sunshine Wealth Management, the top management has stated that, judging from the development trend of China¡¯s banking industry, retail banking and fee-based business have tremendous development potential, presenting the most promising development and profit-making prospects for commercial banks in China, especially small or medium ones.To this end, CEB is committed to creating a ¡°wealth management platform¡± with its own characteristics. On the one hand, the platform aims to create financing tools that integrate local and foreign currencies, so that products denominated in domestic currency can carry on the functions of those in foreign currencies. On the other hand, based on further market segmentation, more customized products should be introduced so as to meet specific needs of different customers. Through innovation of products, channels, techniques and services, CEB strives to bring benefits for its customers with different needs and from different groups.
