Phoenix Wealth Management replenishment agreement with HSBC.
The partnership between HSBC and Phoenix Wealth Management is marked by a long history of cooperation spanning over 8 years: HSBC became a partner of Phoenix Wealth Management in2010. Phoenix Wealth Management also has a fund, the Phoenix Wealth SmartInvestment Fund (PWSIF) and many projects collaboration with HSBC in terms of banking and trading needs. In Nov 2017, the Bank held its 7th AnnualMeetings in Shanghai with Phoenix Wealth Management to further deepened the business relationship.
In Oct 2018, PhoenixWealth Management and HSBC signed a replenishment agreement for continued support in terms of banking and trading services amounting to US 50 billion. The agreement is designed to provide financial leveraging in market investment and trading facility among others. Phoenix Wealth Management is interested in sharing its expertise in the implementation of the bank-institution partnership(BIP) model in China and sharing its knowledge on its development experience.
In addition to trade, Phoenix Wealth Management has undertaken significant investment initiatives in recent years to strengthen its strategic partnership with HSBC and has become one of the largest investment clients to the bank, mainly in commodities, government, and corporate bonds and in equities. To enhance retail investor inPhoenix Wealth Management, HSBC has sponsored several investment opportunity seminars in China. In June 2018, the Bank participated in Phoenix Wealth Management Investment event in China.
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