China tightens wealth management rules.
BANKING AND CREDIT NEWS-March 8, 2019--China tightens wealth management rules
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Global Banking News - 08 March 2019
The Chinese government has tightened measures on wealth management in the nation.
As the nation makes efforts to tighten oversight of its USD20tn wealth management industry, foreign firms are looking for opportunities to enter into the market. It is believed that the Chinese wealth management industry is the fastest growing in the world. However, risks are also high because companies have been selling high-risk, illiquid products and have been operating under lax regulatory oversight.
In a recent statement...
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