The China Banking Regulatory Commission last week issued several strict-sounding new rules applying to the issuance of Wealth Management Products. The investment products have seen massive growth in the past year, with assets tripling to RMB10tn in the past two years, equivalent to 10 per cent of all China’s bank deposits.
Apart from upsetting share prices of mainland Chinese banks, what are the new rules actually going to achieve — if anything?
Continue reading: WMPs and China’s shadow banking whack-a-mole game Reported by FT.com 51 minutes ago.
Apart from upsetting share prices of mainland Chinese banks, what are the new rules actually going to achieve — if anything?
Continue reading: WMPs and China’s shadow banking whack-a-mole game Reported by FT.com 51 minutes ago.