Beijing turning screw more on WMP business
Proposed rules are expected to further curb the growth of wealth management products in China by restricting the instruments banks can buy, with WMP returns tipped to fall.
China’s banking regulator is taking further steps to curb the growth of the industry’s $3.8 trillion wealth management product (WMP) business, amid what it sees as rising risks in the shadow banking sector. Banks will reportedly have more constraints on the products they can issue and partners they work with.
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