Your loss is your problem, China tells small investors as it tightens money rules
High-risk, high-return, yet state-protected products have warped prices and bred complacency
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Shanghai
RETIRED Shanghai truck driver Shen Xipei shunned risky stocks and low-yielding deposits and instead put his life savings into a wealth management product (WMP) sold - and guaranteed - by a bank.
Soon, however, investors such as Mr Shen may start switching into other assets after Beijing published draft guidelines on Nov 17 to ban financial institutions from guaranteeing investors against losses, tightening supervision of what the central bank says is a US$9 trillion asset management industry.
Share with us your feedback on BT's products and services
TRENDING NOW
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Beijing’s calculated silence on the Iran war
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Vietnam formalises new state leadership, redefining ‘four pillars’ power balance
