Consumers warned of risks over Chinese financial products

A senior Chinese banking regulator warned of risks in wealth-management products of Chinese banks.

Some lenders have failed to disclose sufficient information on the products to their clients, and some are weak in risk management.

To correct the situation, the commission will carry out checks over the financial products and work to improve financial services regulations this year, said Wang Yanxiu, head of the novel products department under the China Banking Regulatory Commission.

Wealth management businesses have boomed in recent years as competition for depositors among Chinese banks increased following government efforts to push market-based interest rates. The lack of investment channels has also made the products popular among depositors.

Recent media reports have revealed several cases of big losses in banks' wealth management products, highlighting the market's risks and regulatory loopholes.

For more.

Also Read

Indonesia, UAE team up to promote local currency use in bilateral transactions

Standard Chartered names three leaders to global transaction banking team

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit