Rich Chinese protest trust product losses

Disgruntled investors including several dozen wealthy individuals protested outside the Beijing headquarters of China Construction Bank (1939.HKG, 601939.SHA) on Monday after losing money in a product sold by the lender, Financial Times reported. The protestors wore face-masks with “CCB return our money” written on them and chanted slogans before they were dispersed by the police. They were protesting over a single product sold by the bank on behalf of state-owned Jilin Province Trust Company that defaulted, with some losing millions of yuan. This well-heeled protest is a wake-up call for China’s leaders, who are mindful of the disquiet that could arise from further defaults.