Among banks, China Citic Bank Corp. fell 1.4%, and Bank of China Ltd. shed 1% in Shanghai.

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Zhang Qiang, vice president at China Citic Bank, said at a briefing in March that nonstandard investment accounted for 64%, or 151.5 billion yuan, of all wealth-management products at the bank, substantially higher than the 35% limit set by the CBRC.

WSJ: Chinese Banks Cut Back on Wealth-Management Products

China Citic Bank Corp.

WSJ: Chinese Banks Cut Back on Wealth-Management Products

As The Economist went to press, Wachovia, an American bank, and Citic of China were among the names in the frame.

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Liu Lefei runs a private equity arm of CITIC, a state-owned investment bank.

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Investors in the share offering included CIC International, Boyu Capital and CITIC Capital, as well as CDB Capital, the equity investment arm of China Development Bank.

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