CreditEase Investors Await Repayment Plan After $4.4 Billion Wealth Product Freeze

Investors in Chinese wealth manager CreditEase are still waiting for an official repayment plan more than six weeks after the company abruptly halted redemptions of quasi-fixed-income products worth 30 billion yuan ($4.4 billion).

The company suspended principal and interest payments on May 22, and circulated an open letter promising an “orderly wind-down” of its fixed-income-like wealth management products, with investment advisers telling clients a plan would be ready in four to six weeks.