Shadow bank curbs crimp structured product offerings

China’s structured product offerings plummeted the most in six months in June amid government efforts to curb the shadow banking industry, Bloomberg reported. The number of securities fell 14% to 197, compared with average growth of 8.4% in the first five months, according to Cnbenefit, a consulting firm that focuses on wealth management. “The Chinese central bank’s move to curb interbank borrowing may dry up liquidity and affect funding for wealth management products,” said Francis Chan, who follows the financial sector in Asia for Bloomberg Industries. “Together with a clampdown on trust-related wealth management products, that may have caused sales of structured products to fall.”