IN BRIEF (Page 9)

PBOC targets wealth products

China's top financial regulators issued a guidance on Friday for overseeing asset and wealth management products of all types of financial institutions, as the country's first unified and strongest supervision standard on this business. The move aims to solve the issues of high leverage, supervision arbitrage and implicit guarantee of potential returns on these products, which is seen as the main resources of the worrisome "shadow banking" risks, said a statement from the People's Bank of China on its website.

Yuan strengthens against dollar