A Wealth Management Product Fails in China. So Who Pays?
(Shanghai) – A crowd of angry investors packed the Shanghai branch of Huaxia Bank on December 3.
They had heard the first of four phases of repayment in a 119 million yuan wealth management plan had not been made and demanded Huaxia return their investments.
Among the protesters was a factory owner from nearby Ningbo who rushed to Shanghai with his wife and groom-to-be son after hearing his investment was in trouble.
- Leaky Pipes
- Chairman of Securities Firm's HK Subsidiary 'Missing for Six Days'
- Xi, Li Express Their Support for Developing Robotics Industry
- Banks' Total Value of Bad Loans Rises for 16th Straight Quarter
- Alibaba Said to Be Taking Stake in Publisher of HK Newspaper
- Wang Jianlin on Why the Wanda Phenomenon Works
- The Week in Photos: Nov.14-20
- Closer Look: Why Official Goals for Natural Gas Use Are in Doubt
- Property Giant Evergrande Buys Half of Insurance Company
- Gov't Announces Plan to Clean Up Rural Areas by 2020
- Sign up to receive our free daily newsletter
- Country's First Cruise Ship Heads to Port for Final Time
- How a New Idea for Revamping the Economy Is Taking Shape
- Official Figures for Major Smog Pollutant Last Year 'Off by Half'
- China Eyes More Muscle for Market Supervision
- The Real Drivers of China's New Culture Movement
- Chinese Gov't 'Causes an Investment Gap with U.S.'
- Why the IMF's Likely Recognition of the Yuan Will Matter
- Party Graft Buster Announces Inquiry into CSRC Official
- Scandal-Hit Citic Securities Says Its Party Head Will Retire
- Plan to Develop Two New Beijing Districts 'Flies in Face of Population Curbs'