Shanghai

THE growth of Chinese wealth management products (WMPs) and interbank liabilities eased in the first quarter of the year, China's banking regulator said late on Friday, amid a crackdown by Beijing on risky behaviour in the financial markets.

The China Banking and Regulatory Commission (CBRC) said in a statement the value of banks' wealth management products totalled 29.1 trillion yuan (S$5.9 trillion) at the end of March, up 18.6 per cent from the start of the year.