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China’s largest independent wealth manager posts healthy profits

Noah Holdings, led by its wealth management business, has notched up a solid second quarter performance in challenging market conditions, according to the firm’s latest earnings report. Income for Noah’s wealth management arm reached RMB167.4 million, accounting for 86.2% of the group’s total profit at the year’s midway point. While this figure is down 1.2% year-on-year, wealth management revenues were…

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