News Link • Economy - International

Angry investors capture head of China metals exchange

08-24-2015 • Financial Times

Investors have been protesting for weeks after the Fanya Metals Exchange in July ceased making payments on financial investment products. The exchange, based in the southwestern city of Kunming, bought and stockpiled minor metals such as indium and bismuth, while also offering high interest, highly-liquid investment products from its offices in Shanghai and its financing branch in Kunming.
Troubles at the exchange are one of many factors contributing to turbulence in China's financial markets, as a slowing economy exposes the weaknesses of the country's debt-driven growth.
Some investors flew in from faraway cities to join hundreds more surrounding a luxury hotel in Shanghai before dawn on Saturday. When Fanya founder Shan Jiuliang attempted to check out, they manhandled him into a car before delivering him to the nearest police station.

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Reported By Donna Hancock