Outstanding balance surges 38%
By Hu Xiaocen |
February 6, 2013, Wednesday
|
Print Edition
Print Edition
THE outstanding amount of personal wealth management products issued by banks in Shanghai stood at 576 billion yuan (US$91.6 billion), accounting for 14 percent of the country's total, by the end of last year, the local banking regulator said.
By the end of December the outstanding balance of the total wealth management products issued by banks in the city surged 37.5 percent annually, the China Banking Regulatory Commission Shanghai office said in a statement yesterday.
During the fourth quarter of last year 50 domestic and foreign banks issued 7,007 wealth management products with a collective amount of 772.9 billion yuan, according to the statement.
The local regulator said over 50 percent of the products issued by the local banks were invested in the bond and money markets which are viewed as less risky than investments in trust companies or other channels.
The wealth management products are short-term investment instruments designed and sold by the banks.
By the end of December the outstanding balance of the total wealth management products issued by banks in the city surged 37.5 percent annually, the China Banking Regulatory Commission Shanghai office said in a statement yesterday.
During the fourth quarter of last year 50 domestic and foreign banks issued 7,007 wealth management products with a collective amount of 772.9 billion yuan, according to the statement.
The local regulator said over 50 percent of the products issued by the local banks were invested in the bond and money markets which are viewed as less risky than investments in trust companies or other channels.
The wealth management products are short-term investment instruments designed and sold by the banks.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
