Deals
Xi's Risk-Off Push Ripples Through China as Transition Nears
- Banking regulator is said to order banks to lower WMP yields
- Dalian Wanda comes under scrutiny for overseas deal-making
China Moves to Reduce Financial Risks
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China’s push to rein in financial risks is rippling through the economy, with regulators targeting everything from corporate acquisitions to returns on the savings products banks sell to yield-hungry consumers.
On Tuesday, Bloomberg reported that the banking regulator had told lenders to lower interest rates on wealth-management products, a popular vehicle for domestic savers, after yields in the $4 trillion industry jumped in past months. Officials also extended their campaign against risky overseas acquisitions, with conglomerate Dalian Wanda Group Co. coming under scrutiny after a deals spree.