The AMAC said it had cancelled the registration of more than 10,000 private wealth management companies in China. Photo: Reuters The AMAC said it had cancelled the registration of more than 10,000 private wealth management companies in China. Photo: Reuters
The AMAC said it had cancelled the registration of more than 10,000 private wealth management companies in China. Photo: Reuters

New rules force closure of about 10,000 Chinese private wealth management firms in six months

Rising defaults and fraud in the insufficiently regulated sector force China to tighten entry norms for companies

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The AMAC said it had cancelled the registration of more than 10,000 private wealth management companies in China. Photo: Reuters The AMAC said it had cancelled the registration of more than 10,000 private wealth management companies in China. Photo: Reuters
The AMAC said it had cancelled the registration of more than 10,000 private wealth management companies in China. Photo: Reuters
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