A Wealth Management Product Fails in China. So Who Pays?

(Shanghai) – A crowd of angry investors packed the Shanghai branch of Huaxia Bank on December 3.

They had heard the first of four phases of repayment in a 119 million yuan wealth management plan had not been made and demanded Huaxia return their investments. 

Among the protesters was a factory owner from nearby Ningbo who rushed to Shanghai with his wife and groom-to-be son after hearing his investment was in trouble.