Some financial institutions in Wuxi have enticed local residents to buy financial products with complex product structure and attractive extra yields. However, the investors found that it's difficult to be credited with the interest for some of the financial products and worse yet, it's impossible to take back their principal.
In response to such cases, nearly 20 members of the Wuxi Municipal committee of the Chinese People's Political Consultative Conference (CPPCC) have suggested that financial institutions should set up a special zone to teach local residents how to better manage their money.
The idea would be to help them know about the nature and risks of different financial products and be alert to the warning signs of financial fraud with lessons from previous fraud cases.
