The Fanya Metal Exchange default in China has caused out - of - pocket investors to hit the streets in protest . Just as Beijing is scrambling to restore foreign investment confidence in its major markets following a tumultuous summer, its own citizens have hit the streets in protest, underlining the dangers that lurk in China’s byzantine financial system. Though this is not the first time defaults on so - called wealth management products and similar investments , marketed by banks but often backed by high - risk or speculative projects , ﻿have sparked protests in China ; w﻿hat makes this more unusual is that for once the investors are protesting in Beijing and Shanghai , in front of government offices , including the China Securities Regulatory Commission . The " Daily Golden Jewel " investment offered by the Fanya Metal Exchange had implied it was risk - free with government - backing , however , when it experienced financial problems earlier this year , the funds were frozen , leaving a reported $ 6.4bn owed to investors . " Our losses are not only in money but also in our trust in our investors " , said one investor .
The Fanya Metal Exchange default in China has caused out - of - pocket investors to hit the streets in protest . Though this is not the first time defaults on so - called wealth management products and similar investments , marketed by banks but often backed by high - risk or speculative projects , ﻿have sparked protests in China ; w﻿hat makes this more unusual is that for once the investors are protesting in Beijing and Shanghai , in front of government offices , including the China Securities Regulatory Commission . The " Daily Golden Jewel " investment offered by the Fanya Metal Exchange had implied it was risk - free with government - backing , however , when it experienced financial problems earlier this year , the funds were frozen , leaving a reported $ 6.4bn owed to investors . " Our losses are not only in money but also in our trust in our investors " , said one investor .