Banks Gear Up to Let Customers Trade Wealth Management Products
China Construction Bank (CCB), the country’s second-largest bank by assets, has started allowing clients to trade wealth management products (WMPs), aiming to improve liquidity in the market and create more demand for products with longer maturities.
The new service, which CCB opened at the end of December, provides a trading platform for customers to sell their WMPs to other investors before they mature, although they will have to sacrifice some of the original yield based on how close the product is to maturity.
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