Banks target asset management
By Jiang Xueqing | China Daily | Updated: 2019-02-11 07:44
Move aims to make most of new rules; existing WMPs may be shifted to lenders' subsidiaries
A broader range of asset management activities are set to become integral to Chinese banks, following new rules.
The banking and insurance regulator announced the new rules on Dec 2 that allow qualified banks to set up their own wealth management subsidiaries.
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