Guarantor repays principal on failed Huaxia product

Bankers are breathing easier after more than 90 investors in a failed wealth management product sold at a Huaxia Bank branch in Shanghai were repaid by the product's guarantor.

Two investors who bought the product said Zhongfa Investment Guarantee recently paid them back the principal amounts they had invested after the borrower, Zhongding Wealth Investment Centre, collapsed.

A total of 91 investors were reimbursed, one of them said.

via Business feed http://www.scmp.com/business/banking-finance/article/1133906/guarantor-repays-principal-failed-huaxia-product