Waitresses at a Chinese restaurant chain last month began handing our fliers to customers promoting purchase of what are known in China as wealth-management products:
- According to the flier, a 500,000 yuan (about $80,000) investment offers a 13% annual return, while other products yield 8%. By contrast, one-year bank deposits in China are capped by the government at 3.3%
- “We introduce some basic information to clients who are interested in the products and later direct them to specialized wealth managers if they really want to buy,” said one waitress
- The restaurant, Luo Luo Fish Hot Pot, has a wealth-management arm
- Its marketing through its 14 restaurants because of intense competition and the restaurant’s exposure to the public
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OK, then. More here: Hot Pot Chain Offers Fish Soup, With a Side of Investment
