China Exchanges Ban Cosmetic Surgery Loans in Debt Securities
This article is for subscribers only.
Chinese regulators have barred cosmetic surgery loans from structured debt products, a warning shot for the country’s big -- and controversial -- plastic surgery industry.
The Shanghai and Shenzhen stock exchanges banned consumer debt linked to cosmetic procedures from asset-backed securities traded on the exchanges, according to a person with knowledge of the matter. The rule applies to new issues and won’t take effect retroactively, said the person, who declined to be identified discussing non-public information. The move was first reported by Jiemian.