Bank WMP Registration And Depository Service

Incorporated in January 2016, China Banking Wealth Management Registration & Depository Center Co., Ltd. (“WM Center”) is the provider of central registration, information disclosure and third-party depository services in the banking wealth management market of China.

The business of WM Center includes: wealth management product registration, depository and settlement; risk monitoring and analysis of wealth management business; wealth management product database development, information & technology services, and market research; integrated services in relation to wealth management product direct financing instrument and banking wealth management plan business; wealth management product information disclosure, training and promotion, consulting and evaluation, and investor education; and other business approved by the CBIRC.

WM Center operates some important systems including wealth management product registration system, wealth management product depository system, chinawealth.com.cn and integrated wealth management business platform, which collectively serve as an infrastructure platform for China’s banking wealth management market.

WMP Registration

Under the guidance of the CBIRC, WM Center develops and maintains the “National Banking Wealth Management Product Information Registration System” to register the information on wealth management products offered by banking institutions, investment asset information, wealth management product investor information, and wealth management sector practitioner information.

The system can conduct full-life-cycle registration of a WM product and the “upward” and “downward” penetrating registration of product information, wealth management product investor information and underlying asset information, thus satisfying the comprehensive, real-time, dynamic and penetrating regulation requirements of the regulatory authorities. In particular, the registration of investor information has become an important means to carry out the appropriateness measurement of investors and to strengthen the protection of investors’ interests. The system also automatically assigns a unique registration code to each product as a confirmation for compliance, which effectively prevents “unethical order stealing” and “untrue wealth management”.

WMP Depository

WM Center provides depository service for all wealth management products and exercises whole-life-cycle product management for customers. WM Center does not conduct proprietary business, and thus it has no competitive relationship with the depository customers. This ensures asset independence and risk isolation, as well as absolute security of customers’ investment information and investment strategies.

WM Center creates separate ring-fenced accounts for the products under depository, and ensures the fund in the accounts is complete and independent; it receives the fund transfer and payment orders from the product managers in a real time manner, and efficiently and safely handles the payment and settlement of funds; it verifies the proportion of portfolios and underlying projects, and automatically monitors related indicators to help managers invest in compliance with laws and regulations; and, it performs separate accounting for products and issues financial statements. In addition, the depository business of WM Center also provides customers with statement customization, policy interpretation, business training, market analysis, risk management and other value-added services.

Miscellaneous Services

- Big Data Analysis and Related Service. On the basis of the wealth management product database, WM Center has developed a wealth management product statistics system, by which it can deeply explore the use of data, regularly discloses to the market participants and investors the overall operation of the wealth management business, and submits various statistical data, wealth management business operation reports, research reports on hot issues in the market and dynamic monitoring reports of risks to the competent authorities. WM Center also provides market institutions with information services, e.g. comprehensive capability evaluation of banking wealth management, dynamic monitoring of risks, risk rating of products, investors’ risk tolerance assessment, fair value measurement and net worth calculation of net worth products, and product & asset income analysis.

- Website Service. www.chinawealth.com.cn is an information disclosure website for wealth management products in China’s banking industry with the approval of competent authority. As an authoritative, specialized and timely provider of all sorts of information, the website is capable of rendering multi-level and all-around information services for its users, including wealth management information, wealth management product inquiry, wealth management policies, laws and regulations, wealth management product statistics & analysis, wealth management research, investor education, information disclosure and various innovative businesses.

- Education and Training. WM Center provides asset management institutions, persons working in the wealth management sector, investors, university students and researchers with the training of wealth management registration system, special training on wealth management business and investor education.

WMP Direct Financing Instrument

The inception of “Wealth Management Product Direct Financing Instrument” is aimed at meeting the requirement of the State Council that “the funding source or application of various wealth management products should be directly connected with the real economy in principle” and the requirement of the former CBRC of “exploring the new wealth management products and new wealth management models of effectively serving the real economy while isolating the risks of different products”. Wealth management product direct financing instrument is a standardized financial instrument initiated by commercial banks on behalf of financing enterprises. It aims to directly satisfy the financing demand of enterprises. It is under uniform registration and depository, transferred among qualified investors and subjected to information disclosure on chinawealth.com.cn.

M Center is responsible for developing the business regulations, the registration and assessment system and the integrated business platform of wealth management product direct financing instrument. It also carries out registration and assessment, issuance, depository, trading, settlement, interest payment & principal redemption, information disclosure, statistics & analysis, innovation, research, marketing and promotion of such instrument.

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