The Chinese banking regulator issued a circular last month saying illegal fund-raising was rampant in "most cities on the mainland, with participants ranging from affluent people to the poor" taken in by promised high returns.

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The Chinese banking regulator issued a circular last month saying illegal fund-raising was rampant in "most cities on the mainland, with participants ranging from affluent people to the poor" taken in by promised high returns.
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Jane Cai

Jane Cai

Jane Cai, CFA, is the Beijing Bureau Chief of the South China Morning Post. She has been covering China's economic, financial, business and political news since the early 2000s.