May 4, 2020 / 1:46 PM / 23 days ago

China to monitor product risks caused by global commodities turbulence

BEIJING, May 4 (Reuters) - China will closely monitor risks in some financial products brought on by turbulence in global commodity markets, the state council’s financial stability committee said on Monday after a meeting chaired by Vice Premier Liu He, according to the Chinese government’s website.

The state-controlled Bank of China (BoC) is facing investor anger over heavy losses last month on an oil-related investment product after an unprecedented crash in energy markets.

The committee called for increased awareness and management of risk, the prevention of spill-over effects, the respect of contracts, clarity of responsibility and protection of investors’ rights, according to the statement.

Reporting by Tony Munroe and Yew Lun Tian; Editing by Susan Fenton

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