, Columnist
China's Wealth-Management Time Bomb
Rules aimed at shifting risks explicitly on to investors may be too little, too late.
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China wants to wean investors off implicit guarantees on the country's ballooning stock of wealth-management products. The effort looks half-hearted at best.
Financial regulators are drafting rules for asset-management products that aim to make it clear they don't carry government backing, people familiar with the matter told Bloomberg News. Besides the central bank, the overhaul involves regulators for the banking, securities and insurance sectors.