Chongfeng Ran (pictured), head of structured product of financial market department at China Minsheng Bank (CMBC), tells SRP about the bank’s views on the structured products market in China and its plans to differentiate its wealth management offering.
How did China’s new measures to allow banks to set up wealth management subsidiaries in December last year and tighter regulations on ‘implicit guarantee’ earlier on shape the structured deposits business? The end of implicit guarantee is good for the development of structured deposits as clients with low-risk appetite shift towards principal guaranteed products. The establishment of wealth management subsidiaries will differentiate the on-balance sheet deposits from the
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