US EditionChina bans bank from luring depositors with popular Labubu dolls
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9 Articles
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China bans bank from luring depositors with gifts
A Chinese lender's stunt to woo depositors with gifts including the wildly popular Labubu dolls has been barred by financial regulators, underscoring the increasingly fraught battle among banks for customers as interest rates and profit margins fall.
Thanks to TikTok and K-Pop, the Chinese Labubu dolls are in extreme demand. Beijing, however, puts a bar on the marketing with the fabric doll.
Puppet theatre: According to Chinese law, the Chinese financial authority prohibits Ping An Bank from attracting new customers with popular Labubu dolls. According to Chinese law, the premium is intended to be an unencumbered means with which the bank is bouncing for deposits. Apparently, money transactions in the midst of the tense world economy are not allowed to trigger any good feelings. spiegel.de (Photo: Henrik Montgomery / TT News Agency …
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