Zhong Guo Zheng Quan Bao·2025-11-03 15:18Core Viewpoint - Major Chinese banks, including Industrial and Commercial Bank of China (ICBC) and China Construction Bank (CCB), have temporarily suspended certain gold accumulation services due to macroeconomic policy impacts and system upgrades aimed at enhancing customer service and product quality [1][4][5]. Group 1: Business Operations - On November 3, ICBC announced the suspension of its "Ruyi Gold Accumulation" services, affecting new account openings, active accumulation, and physical gold withdrawals, while existing plans remain unaffected [5][7]. - Later that evening, ICBC reversed its decision and resumed accepting applications for the "Ruyi Gold Accumulation" services, allowing customers to manage their gold accumulation through various channels [2][7]. - CCB also announced a suspension of its "Easy Storage Gold" services, including real-time purchases and physical gold exchanges, while existing investment plans continue to operate normally [7][10]. Group 2: Market Context - The recent suspension of gold accumulation services is linked to adjustments in the banking system to comply with new gold tax policies and to manage risks associated with market volatility [4][10]. - Since October, international gold prices have experienced significant fluctuations, prompting banks to issue risk warnings and advise investors to exercise caution and manage their investment positions carefully [10][11][12].