HONG KONG -- In recent months, one of the biggest risk factors for investors in China has been the heavy hand of government officials cracking down on tech companies or enforcing zero-COVID polices.

AT1 prices were hit last week after Swiss regulators decided to wipe out $17.5 billion of such bonds issued by Credit Suisse as part of its acquisition by UBS. (Source photos by Getty Images and Reuters)
Investors find comfort in Beijing bureaucrats' history of supporting wobbly banks