Just an update from Reuters:
China’s top lender will help bail out investors in a troubled high-yield investment scheme, local media said on Friday, in a move that risks reinforcing the view among Chinese savers they are effectively insured against poor investment decisions.
- An official at ICBC’s Shanghai branch was quoted as saying that ICBC would take some responsibility
- “ICBC won’t ignore the issue of its reputation,” the official Shanghai Securities News quoted her as saying
