Pursuits
Poorly Paid Chinese Savers Skirt Deposits for Structured Notes
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Chinese investors looking for a better return than what they’re getting on bank deposits have boosted structured product offerings in the nation to the most in more than 18 months.
The number of structured offerings, which in China are sold under the banner of wealth- and asset-management products, offered by banks jumped to 253 in July, the most since December 2012, according to research firm Cnbenefit. Savers diverted 1.6 trillion yuan ($260 billion) of deposits into asset-management products last month, sending local-currency bank holdings down by a record amount, central bank data back to 2000 show.