Jan 21, 2012 04:56 PM

China Bans Sale of Deposit-Based Investment Trust Product

By staff reporters Zhang Yuzhe and Chen Huiying

(Beijing) – China took yet another step in addressing oversight within the investment trust industry by banning the sale of another trust product category.

The China Banking Regulatory Commission ordered trust companies to halt the sale of a trust product which targets earnings on bank deposit interest rates.

A senior manager at a trust company said the measure aims to stop off-balance sheet lending activity at banks.

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