Far out Friday: Chinese investors getting aggressive with advisors

Far out Friday: Chinese investors getting aggressive with advisors

Far out Friday: Chinese investors getting aggressive with advisors It defies explanation, but the chief executive of a Beijing-based asset management company paid the price for some poor investment results with an angry investor thrusting a knife into his shoulder.

During a meeting with investors, the CEO and general manager of Global Wealth Investment, Wang Jie, was stabbed in the shoulder by an investor who lost $47,460 in the firm’s products.

The assailant, who is in his 20s, was sitting next to Wang during the meeting and calmly waited for police to arrive after the incident.

"He was very young and didn't control his emotions well," a source told Reuters.

The incident was first reported by Chinese financial magazine Caixin. Police declined to comment on the case.

With many investors feeling cheated after losing their money in products advertised as risk-free and holding out the promise of double digit returns, this crime further exposes the escalating tensions in China's financial system.

Investors and officials in China are now contemplating the possibility that GDP figures could dip below 7% this year, which comes after the country posted double-digit growth for the last decade

As the country’s leaders have focused the economy on being more domestic orientated and consumption led, a raft of data has disappointed in recent months.

In August, a shock devaluation of the yuan led to severe bouts of volatility in global markets.

Since the highs it reached in June of 2015, the Shanghai Composite has tanked by around 40%.