Banks Focus on High-End Clients

Whether coincidence or not ,around the time when forengn banks in Beijing were given the green light to handle RMB business in December last year, several Chinese banks launched their wealth management services targeting highend individual clients. The 8n Wealth Center, for example, launched in Beijing by the Industrial and Commercial Bank of China（ICBC）, showed the bank＇s ambition in building up its brand in this area. While ICBC has in the past been seen as the ordinary person＇s bank, the new strategy aims at high-end clients.