ICBC and TAETEA launch tea wealth management product
ICBC will launch the first Pu'er Tea wealth management product exclusively for private banking customers.
The new Pu'er Tea wealth management product is designed for private banking customers of ICBC. An investor immediately becomes a Pu'er Tea subscriber once successfully subscribes the product. ICBC will use the net proceeds to invest in ICBC TAETEA "Gold Portfolio" Pu'er Tea. Pu'er Tea wealth management product is a 1-year product, within this period, investors have the options to receive the principal and income of the product, either Pu'er Tea or cash. At maturity of the product, investors, if opt for Pu'er Tea, receive ICBC TAETEA "Gold Portfolio" Pu'er Tea of great collection value and high value-added potential, or expected highest annualized yield of 7% if opt for cash.
As related by an executive with the ICBC Private Banking Department, the new Pu'er Tea wealth management product has three features: I. Pu'er Tea of this wealth management product is rare and precious, only 500 sets issued in this batch, the best quality in the industry. II. Flexible income options. Besides choosing cash as income, customers can also opt for Pu'er Tea, a tea of very high value-added potential. III. Investors are also entitled to a range of value-added services, including investment seminars, golf competitions, Pu'er Tea tasting gatherings, Tea seminars, ancient tea mountain tours.
