Chinese investors lap up wealth management products
Many Chinese investors are putting their money in once-unpopular wealth management products amid soaring inflation and a more than 50% decline in domestic stock markets since October, according to a report in China Daily.
"In the first quarter alone, the sales volume of bank wealth management products across the nation topped 910bn yuan (€84.4bn), exceeding the total volume generated in the whole of 2007," said Yan Qingmin, director of the Shanghai branch of the China Banking Regulatory Commission, as cited the China Daily report.
Investors favoured yuan-denominated products with principal guarantee or with less co-relation with equities and those with a short maturity period, a report from the Southwestern University of Finance and Economics showed.
Read the original
- Click to go to China Daily - Web link
del.icio.us
Digg
Newsvine
reddit
StumbleUpon
