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China PBs hitting strategy reset as WMP curbs bite into revenues

China’s private bankers are grappling with how to reset their product strategies, with the slump in wealth management product (WMP) sales impacting both their client conversations and departmental revenues. Officially, under the new ‘unified’ ruling from Chinese regulators issued last year, Mainland banks have until 1 July 2019 to cease all involvement with guaranteed WMP activities – a deadline that…

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