China asks banks to halt new sales of products that may lead to unlimited losses, sources say

BEIJING/SHANGHAI (Reuters) - The Chinese regulator has asked commercial banks to halt new sales of a wide range of wealth management products that might lead to unlimited losses for investors, two sources told Reuters.At the weekend, China Banking and Insurance Regulatory Commission (CBIRC) gave verbal instructions to banks to halt new sales of products that could trigger open-ended losses for investors, and requested reports on the outstanding size of related products, according to two direct..