Date
19 October 2017

Wealth management not shadow banking, Xinhua says

A top Chinese regulator said wealth management is not a form of shadow banking, the official Xinhua news agency reported Tuesday. China has an independent regulatory regime for the wealth management industry and liquidity risks are generally manageable, the report said, citing Yan Qingmin, deputy chairman of the China Banking Regulatory Commission. However, some banks have been selling wealth management products through off-balance-sheet lending which is a form of shadow banking, Yan was quoted as saying.

– Contact HKEJ at [email protected]

KZ/MY/RA

 

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