China’s asset management scheme to hurt banks

China’s pilot plan to replace wealth management products with more sophisticated and better regulated instruments will be resisted by banks as it will hit their profits, say economists.

  • 14 Oct 2013

The Chinese government wants to replace wealth management products (WMPs) with asset management plans (AMPs) and is piloting the scheme with 11 banks. But lenders are likely to push back as the crackdown will minimise profits, which could eventually stunt credit growth.

Between October 18 and October 22, 11 ...

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