Chinese regulators have told some banks to limit their wealth management assets at current levels

Caixin (Chinese private media) with the report on WMPsin China, citing unnamed 'industry insiders'.

• Regulators in several Chinese provinces ordered city commercial banks to cap their wealth management assets at current levels
• Authorities issued the order in verbal guidance to the banks

The report is gated, if you can access it, here is the link for more.

It appears property sector liquidity concerns are behind this. China authorities trying to stem exposure to the sector with this advisory to WMP providers.