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CBRC vows smooth transition in new wealth management regulations

The China Banking Regulatory Commission (CBRC) has vowed to provide a plan for a smooth transition following its new rules for wealth management products. Under the regulation, banks will have until July 2019 to cease their involvement in guaranteed wealth management products. In an industry briefing on Friday, Li Wenhong, director of the CBRC’s department overseeing market innovations, said the commission…

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