Chinese banks rush to suspend commodity linked products after investors suffered huge losses on oil products

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China’s biggest banks are rushing to halt new investment in products linked to commodities futures to prevent after the unprecedented collapse of crude oil prices burned investors at home and abroad.

The Industrial and Commercial Bank of China (ICBC), the country’s largest lender by assets, has suspended the sale of such financial instruments, it said, after oil’s slump reportedly saddled retail investors at Bank of China and professional traders elsewhere with billions of losses.

According to ICBC’s website, its commodities futures trading products are sold to individual customers and are linked . . .

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