The Ministry of Finance initiated the quota management model combining basic quota with reserved quota for the first phase of savings bonds (electronic) which starts selling on July 1. CCB sold RMB2.47 billion of the reserved quota, making up 55% of the national total and ranking No.1 among the agent banks.

CCB sold altogether RMB4.78 billion of the first phase of savings bonds, accounting for 32% of the national total issued amount and exceeding its basic quota set by the Ministry of Finance by 10 percentage points. The bank sold RMB2.31 billion of the basic quota which is 22% of the national total.

It is said that the total issued amount of the first phase of savings bonds is RMB15 billion with a term of 3 years and nominal rate of 3.14%. The issuance lasts from July 1 to 15. In addition to CCB, the product is also sold over the counter of another six banks including the Industrial and Commercial Bank of China, the Agricultural Bank of China, the Bank of China, the Bank of Communications, the China Merchants Bank and the Bank of Beijing.

The Ministry of Finance initiated the quota management model combining basic quota with reserved quota for the issuance of the first phase of savings bonds. The basic quota is allocated by the ministry and shall not be broken by any bank, while the reserved quota is shared among the agent banks and the principle of early bird is applied. Therefore the agent banks have competed fiercely for the reserved quota. Making sophisticated market research and careful preparations in advance and adopting the effective sale and quota management strategies, CCB sold out the bonds within just 2 hours on the first day of issuance. The sale of the first phase of savings bonds has raised the proportion of CCB’s certificate T-bonds sale considerably.

CCB’s securities system operated stably and business outlets offered sound services for the issuance of the savings bonds. There was no single customer complaint caused by system breakdown or poor services. The outstanding performance of CCB in selling the reserved quota of the savings bonds proves that the bank’s securities system is the most stable, advanced and convenient among all the agent issuance banks.