Wealth and Asset Management
China expands crackdown on wealth management fund pools to non-bank financials
China's central bank closed a loophole used by non-bank financial institutions to conceal risks hidden in high-yielding but opaque wealth management products (WMPs), according to a statement published on the website of the China Foreign Exchange Trade System (CFETS) on Tuesday. The new restrictions mark an extension of a similar…
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Click here to read the full story: Reuters