Yanzhou Coal purchases CGB wealth management products

2015-10-15 11:00

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Chinese coal producer Yanzhou Coal Mining Co. (600188.SH; 01171.HK; YZC.NYSE), announced that it had purchased wealth management products run by China Guangfa Bank (CGB) once more on Wednesday.

The company on Wednesday entered into the Xinjiaxin No. 16 RMB Wealth Management Plan Product agreement of CGB with CGB with subscription amount of 500 million yuan and expected annualized return rate at 4.1 percent.

The maturity date of the product is January 13 of 2016, according to the agreement. The company purchased CGB wealth management products for the first time on November 10 of 2014, the second time on February 16 of 2015, the third time on June 23 of 2015 and again on September 29.

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