China Financials

Tue, 2017/11/21 - 2:53pm | Your editor
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Today the Chinese financial system suffered a jolt because new laws imposed from Beijing hit some of the country's Wild East wealth management product firms. These are a danger to political and financial stability, because they are marketed to neophyte investors as being government-backed. In fact many of these are crooked get-rich-quick schemes,

Meanwhile established asset managers and insurance companies which do honest investing have gained hugely in trading in both China and Hong Kong today. We gained 4.3% from one of these favored finance sector companies today, bought as a bet China would clean up its act.

 

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