China Moves to Eliminate Financial Scam Ads

China kicked off a nationwide campaign on Thursday to do away with advertisements for financial scams promising big returns at no risk, highlighting concern over the potential for trouble as financial know-how lags behind rising personal wealth.
The China Banking Regulatory Commission said the three-month “clean-up campaign” would take aim at the huge number of advertisements in China for wealth management products, no-interest loans, real estate and many other “no-risk, high-return” …

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