Home Business Cao Yu of the China Banking and Insurance Regulatory Commission: At the end of last year, capital-guaranteed wealth management and non-compliant short-term wealth management products were cleared.

Cao Yu of the China Banking and Insurance Regulatory Commission: At the end of last year, capital-guaranteed wealth management and non-compliant short-term wealth management products were cleared.

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[CBIRC Cao Yu: At the end of last year, capital-guaranteed wealth management, non-compliant short-term wealth management products were cleared]Cao Yu, vice chairman of the China Banking and Insurance Regulatory Commission, said at the “Global Wealth Management Forum Shanghai Suhewan Summit” on January 15 that the banking and insurance industry capital On the basis of the overall steady growth, the management business has achieved good reform effects of returning to its origins, optimizing its structure, and improving quality and efficiency. By the end of 2021, capital-guaranteed wealth management and non-compliant short-term wealth management products have been cleared, and most banks have completed the rectification of wealth management stock on schedule, especially small and medium-sized banks have completed the rectification work on time, laying a solid foundation for the healthy development of bank wealth management business; The management products have basically achieved net worth transformation, and the product investment operation has been further standardized; the proportion of financing trusts has continued to decline, the channel business has dropped significantly, and the cumulative drop of non-compliant trust projects has exceeded 80%. (Shanghai Securities News)

Cao Yu, vice chairman of the China Banking and Insurance Regulatory Commission, said at the “Global Wealth Management Forum Shanghai Suhewan Summit” on January 15,BankindustryinsuranceOn the basis of overall steady growth, the asset management business has achieved good reform effects of returning to its origins, optimizing its structure, and improving quality and efficiency.By the end of 2021, the capital is guaranteedfinancial management, Non-compliant short-term financial products have been cleared, and mostBankComplete the rectification task of financial stock on schedule, especially for small and medium-sized enterprisesBankThe rectification work has been completed on time, laying a solid foundation for the healthy development of the bank’s wealth management business;insuranceAsset management products have basically achieved net worth transformation, and product investment operations have been further standardized; the proportion of financing trusts has continued to decline, the channel business has dropped significantly, and the cumulative drop of non-compliant trust projects has exceeded 80%.

(Article source: Shanghaisecuritiesnewspaper)

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