China´s own Dodd-Frank Act aims to tame wealth management sector as crackdown on risky financial ...
(WorldNews China)

China’s financial regulators have unveiled a major new regulation – which has been described as Beijing’s Dodd-Frank Act – to rein in shadow banking activities in their latest response to President Xi Jinping’s call to reduce financial risks. The country’s off-balance sheet businesses – including banks’ wealth management products for retail investors, trust investment schemes and mutual funds – with a total value of 100 trillion yuan (US$15......