China structured deposits falter after shadow banking climbdown
Easing of restrictions on wealth management products tips market away from structured deposits
A surge in Chinese structured deposits, a savings account with enhanced returns, has fizzled out in less than a year, as Beijing relaxes restrictions on competing wealth management products.
Structured deposit volumes fell in October by 237 billion yuan ($35 billion) from the previous month, according to recent data from the People’s Bank of China. The market’s first significant fall of 2018 comes after a 65% growth in such products in the first nine months of the year to 9.9 trillion yuan.
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