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China bank's 'sexist' promotion sparks outrage

Published on Jan 14, 2013 1:07 PM
 
Like many other Chinese couples, this pair in Inner Mongolia region registered their marriage on Jan 4, 2013 - a sequence of numbers homonymous with the Chinese phrase "Love you all my life". A Chinese bank has offered couples like them a unique service of transferring any amount of income from the husbands' accounts to those of the wives that exceeds the level agreed to be what the former could keep.  But the service has provoked fury, with some calling it "the most atrocious banking service against men in history". -- PHOTO:CNS

BEIJING (AFP) - A Chinese bank's offer to automatically transfer most of a husband's income to his wife's account has provoked fury, with some calling it "the most atrocious banking service against men in history".

On its website China Merchants Bank (CMB), a major financial institution, describes its "capital accumulation" service as a "time- and energy-efficient" way for a couple to save money.

Using fictional newly-weds Xinyan and Wenhao as an example of a couple struggling to save for a home, an advertisement for the service reads: "CMB will check Wenhao's account balance on a daily basis.

"Once it goes over 1,000 yuan (S$195), the bank will automatically transfer the excess into Xinyan's account.

 
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