Banking News
- Citibank launches new product in SZ
Date: 1-Aug-2007 Sources: (Shenzhen Daily)
CITIBANK and Sino-U.S. MetLife Insurance Co. Ltd. yesterday announced the launch of an investment-linked insurance plan in Shenzhen. The product, named 'Wealth Selected Protection Plan B?is the first investment-linked insurance plan to be sold by a foreign-invested bank in the city.
The product, which costs at least 100,000 yuan (US$12,987), combines protection and investment as part of total financial planning solutions. Such products are gaining increasing popularity in China but were mostly sold by domestic banks in the past.
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