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China tightens rules on wealth management products, flags more curbs
Add BT as a preferred sourcePublished Tue, May 16, 2017 · 09:50 PM
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Shanghai
CHINA'S banking regulator is tightening disclosure rules on lenders' wealth management products (WMP) as it tries to track risky lending practices in the shadow-banking sector, the latest in a series of steps by Beijing aimed at defusing financial risks.
The China Banking Regulatory Commission (CBRC) said in a notice late on Monday it plans to launch 46 new or revised rules this year, part of which targets risks related to shadow-banking activities. The authorities are trying to better regulate 30 trillion yuan (S$6.1 trillion) of WMPs, much of it sitting off-balance sheet in the shadow-banking sector.
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