Return rate guarantees are illegal

Source:Global Times Published: 2013-10-23 23:08:02

The China Securities Regulatory Commission (CSRC) announced Wednesday that the country's law and regulations on funds forbid funds products from guaranteeing return rates.

Regarding a report that Baidu Inc will release a new online wealth management product Baifa in cooperation with China Asset Management Co Ltd, CSRC said Baidu's alleged guarantee of an 8 percent return rate is illegal.

Posted in: Companies

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