Sino-File

Bloodying the banks

“Yu’e Bao is like a vampire that has climbed on the body of banks”

Niu Wenxin w

Niu Wenxin

Prominent commentator and CCTV editor Niu Wenxin attacks Alibaba’s investment fund product Yu’e Bao, calling for it to be prohibited for drawing deposits away from the state banks and “attacking the overall economic safety of China”. For more on the success of Yu’e Bao see WiC225.


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