Is it time to dodge the shrapnel from China’s WMP explosion?
China’s top user of wealth management products, real estate developer Xinhu Zhongbao, has wound back its WMP portfolio by almost a third – but China’s treasurers are unlikely to change portfolio direction anytime soon.
If treasurers were in any doubt that wealth management products had replaced all traditional cash management tools in China – be they bonds or even traditional bank deposits – they need look no further than the latest numbers from Beijing.
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