WMPs witness rapid rise

China's wealth management products (WMPs) saw substantial increase in 2013, with funds raised reaching 6.8 trillion yuan ($1.1 trillion), China Business News reported on Tuesday citing China Banking Association.

Total investment in wealth management products rose 37.9 percent from a year earlier, and the outstanding amount hit 10.21 trillion yuan by end of 2013, up 43.6 percent from early this year.

More than 70 percent of the raised money flew into the economy and supported businesses, according to the association.