Home » China Banking Regulatory Commission: It is expected that most banking institutions can complete the task of rectifying wealth management stock by the end of this year

China Banking Regulatory Commission: It is expected that most banking institutions can complete the task of rectifying wealth management stock by the end of this year

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This year is the last year of the transition period of the new asset management regulations. Currently, the deadline for the transition period is approaching.Today, the spokesperson of the China Banking and Insurance Regulatory CommissionFinancial managementAnswered reporters’ questions on the progress of business inventory rectification and standardized transformation.

The China Banking and Insurance Regulatory Commission said that the dismantling of the shadowBankIt is the key task of preventing and resolving major financial risks. Among them, standardizeBankWealth management business is very critical.China Banking and Insurance Regulatory Commission continues to superviseBankInstitutions consolidate their main responsibilities and promote the rectification of the wealth management business stock. At present, the situation of rectification and improvement is in line with expectations. As of the end of July, nearly 70% of the rectification tasks of all wealth management stocks have been completed. It is expected that most banking institutions will be able to complete the rectification before the end of this year. For the remaining small amount of difficult-to-dispose assets of individual banks, they shall be included in the special disposal of individual cases in accordance with relevant regulations until all are cleared.

At the same time, the wealth management business was transformed in an orderly manner in accordance with the regulatory guidance, the structure was continuously optimized, the net worth transformation was intensified, and risks continued to converge. As of the end of July, net-worth wealth management products accounted for more than 80%; inter-bank wealth management decreased by 96% from the peak; capital-guaranteed wealth management and non-compliant short-term product scales were all down by more than 98% compared to when the new asset management regulations were released. At present, 29 wealth management companies (including joint venture wealth management companies controlled by foreign parties) have been approved for establishment, and 21 of them have been approved for opening. The newly established wealth management company adheres to the transformational positioning of openness, transparency and net worth, pays more attention to investor suitability management, and steadily promotes business development. It is gradually becoming an important force in deepening the structural reform of the financial supply side.

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(Source: China Net Finance)


Article source: China Net Finance

Editor in charge: DF552

Original title: China Banking and Insurance Regulatory Commission: It is expected that most banking institutions can complete the task of rectifying wealth management stock before the end of this year

Solemnly declare: The purpose of this information released by Oriental Fortune.com is to spread more information and has nothing to do with this stand.

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