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News Link • China

Investors Take To The Streets In China As 'Ponzi' Wealth Management Products Fail

• Business Insider

A few days later, dozens took to the streets of Shanghai in protest, China's Sina reports.

Wealth management products have become increasingly popular to Chinese investors searching for high yield. Banks, like Huaxia, usually act as third parties (in this case for Zhongding Wealth Investment Centre) selling them with promises of returns of up to 13%. Fitch estimates that $1.95 billion (12 trillion yuan) of these investment vehicles have been sold as of the first half of this year.

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