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Trust Firms Given Deadline to Quit Risky Business

The president of a state-owned trust company told Caixin he thought it would be “very difficult” for firms to exit all nonstandard asset investments financed by funding pools in three years, as regulators want. Photo: VCG
The president of a state-owned trust company told Caixin he thought it would be “very difficult” for firms to exit all nonstandard asset investments financed by funding pools in three years, as regulators want. Photo: VCG

*Trust companies told they will be given three years to exit such investments that are seen as particularly dangerous

*Deadline from the China Banking and Insurance Regulatory Commission marks the first time that authorities have spelled out a fixed time frame

(Beijing) — As regulators step up their campaign to rein in financial risks, they are taking another stab at crushing trust companies’ continued investment of pooled money raised via wealth management products in nonstandard assets.

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