Wealth management products catch on as stocks dip

SHANGHAI: Tang Hanshan, 27, generated a 13-percent profit from his investments last year, but as China's stock market turned bearish last November, Tang changed his strategy.

The young man recently invested about 60,000 yuan - or half of his savings - in a wealth management product developed by China Construction Bank.

"There's no better choice at the moment," Tang said. "Bank wealth management products could help small investors like me to better fight the high CPI (consumer price index) and avoid the hazards of a bumpy stock market."