By King & Wood’s Finance Group
After seeking public comments in a wide range and holding several times discussions with bankers and lawyers, on 9th October 2011 CBRC promulgated the Rules on the Distribution of the Wealth Management Products of the Commercial Banks ("CBRC Rules"). The CBRC Rules maintains major content of the Interim Rules on the Commercial Bank’s Wealth Management Business to the Individuals and the Guidelines on Risk Management on the Commercial Bank’s Wealth Management Business to the Individuals in 2005, at the same time, CBRC Rules provides new requirements in key fields. In the current banking market, the funds is seriously short, and the interest rates for the deposit are very low and the means of investment are very limited, therefore, banks and their clients will pay much more attention to the sales of the wealth management products.
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