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WMP contraction to spur PBs’ distribution model: Pufa

Banks’ wealth management product (WMP) businesses are poised to take the hardest hit under Chinese regulators’ newly unified regulations for asset management, but the change will lead private banks to focus more on a distribution model, according to Shanghai Pudong Development Bank (“Pufa”) in the latest report released on the Tsinghua Financial Review. Meanwhile, the Shanghai-based bank expects online finance…

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