Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH)

SummaryQuotesChartsNews 
SummaryMost relevantAll NewsOther languagesMarketScreener Strategies

China's watchdog tightens rules for $1 trillion cash management market

06/11/2021 | 04:39am EDT
A man rides an electric bike past the CBIRC building in Beijing

BEIJING (Reuters) - China's banking and insurance regulator issued rules on Tuesday on wealth management products for cash, tightening oversight of the $1 trillion market.

China Banking and Insurance Regulatory Commission banned such products from investing in stocks and convertible bonds and said the leverage level of each product should not exceed 120% normally, according to a statement on the regulator's website.

The regulator also asked commercial banks and wealth management companies to conduct stress tests on such products to make sure they could deal with urgent redemptions.

The products regulated are those investing in monetary market instruments only and open for purchases and redemption on every trading day, the statement said.

The size of wealth management products for cash totalled 7.34 trillion yuan ($1.15 trillion) as of the end of March, according to China Banking Wealth Management Registration and Depository Center.

($1 = 6.3882 Chinese yuan renminbi)

(Reporting by Zhang Yan, and Ryan Woo in Beijing; Editing by Edmund Blair)


ę Reuters 2021
All news about UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH)
05:48aROISERV LIFESTYLE SERVICESá : Invests $77 Million in Asset Manager's Fund Produc..
MT
05:45aGUANGDONG HONG KONG GREATER BAY AREA : Wins Chinese Land Use Rights with $66 Mil..
MT
05:32aDONGFENG AUTOMOBILEá : Motor Unit to Unload Office Assets for $23 Million
MT
05:11aFACTBOX-China's unprecedented crackdown on its internet sector
RE
05:04aSHEEN TAIá : Unit Grants Loan Worth Over $9 Million to Suining Chuyue Zhiye
MT
04:37aHong Kong stocks fall ahead of Powell's testimony
RE
04:32aChina's onshore yuan finishes domestic session at 6.4733 per dollar, weakest ..
RE
03:55aChina stocks close higher as banking, energy firms climb
RE
03:53aC&D INTERNATIONAL INVESTMENTá : Unit to Acquire Nearly 20% Stake in Holsin Engin..
MT
03:49aCHINA DEVELOPMENT BANK FINANCIAL LEA : CDB Leasing to Transfer Highway Assets in..
MT
More news
Chart UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH)
Duration : Period :
United States Dollar (B) / Chinese Yuan in Hong Kong (USD/CNH) Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH)
Short TermMid-TermLong Term
TrendsBullishBearishBearish