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 The “Daily Golden Jewel” investment promised annualised returns as high as 13.7 percent and the right to withdraw funds at anytime. is that for once the investors are protesting in Shanghai and Shanghai , in front of government offices, including the Fanya Metal Exchange . the China Securities Regulatory Commission " investment offered by the Fanya Metal Exchange had implied it was risk-free with government-backing, however, when it experienced liquidity problems earlier this year , the funds were frozen, leaving a reported $ $5.7 billion owed to investors. "Our losses are not only in money but also in our trust in our government", 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 Shanghai and Shanghai , in front of government offices, including the Fanya Metal Exchange . the China Securities Regulatory Commission " investment offered by the Fanya Metal Exchange had implied it was risk-free with government-backing, however, when it experienced liquidity problems earlier this year , the funds were frozen, leaving a reported $ $5.7 billion owed to investors. "Our losses are not only in money but also in our trust in our government", said one investor.