From May 18th to the end of this year, any ICBC client who opens new personal account of physical gold trade through any ICBC branch or its Internet Banking can all enjoy a 40% discount of new account commission, that is, the commission will reduce from RMB 60 to RMB 36. This new favorable promotion will be launched nationwide.
Personal physical gold trade is a financial product jointly launched by ICBC and Shanghai Gold Exchanges (SGE), which aims to encourage investment in physical gold by means of Renminbi. Via the gold trade system constructed by ICBC and SGE, clients can conduct physical gold trade, capital liquidation, and physical delivery activities. Currently the investment products include three contractual ones of spot trading, namely, Au 99.99, Au 100g and Au 99.95.
ICBC's official responsible for the promotion says that, it is very convenient for clients to open personal account for physical gold trade. Anyone with ICBC's Peony Money Link Card, E-Age Card and Elite Club Account Card, can register an account of physical gold trade through Internet Banking, or at any ICBC branch by providing their ID cards and registration cards. The investment threshold is relatively low, only requiring the purchase of 100g gold, equivalent of about RMB 20,000 in accordance with current market price. ICBC offers all clients various channels of trade, including Telephone Banking, E-banking, and the ICBC branch network. Moreover, T+0 trade can be finished on the day of transaction, while clients are also provided with Telephone and Internet Banking service at night, as well as 24-hour service of account inquiry and transaction detail inquiry. Besides, the cost of gold trade and extraction of physical gold bars is very low, while our VIP Personal Internet Banking clients can continue to enjoy discounted commissions.
Industrial insiders point out that, as an ultimate form of human wealth, gold has been an indispensable investment product in our asset portfolio. Physical gold investment is especially tailored to the clients who are capable of tolerating certain degree of risk, and are in need of gold investment and extraction of physical gold. ICBC's present promotion provides numerous clients with much convenience to participate in domestic gold trade. It will not only enrich clients' investment channels, but also meet the public demand for gold purchase and possession.
