China Securities Depository and Clearing Corporation Limited, Circular on Matters Relevant to the Opening of Securities Accounts for the Wealth Management Products of Commercial Banks

Issued: December 23 2013

Effective: as of date of issuance

Main contents: With a view to supporting the participation by the wealth management products of commercial banks in investment in fixed return products of stock exchanges such as standardised bonds, credit-asset-backed securities and preference shares, one securities account may be opened on each of the Shanghai and Shenzhen stock exchanges for the wealth management products of a bank. However, from the Circular, it would seem that bank wealth management products still cannot invest in equity type products, such as stocks (Articles 2 & 3).