Asset management in China explained

Asset management companies in China came into being in 1998. The founding of commercial Asset management companies (AMC;) established by the Ministry of Finance tasked with professionally managing third-party assets was a major landmark in the development of China's financial system. It marks a transition in Chinese regulation away from an unregulated environment toward a system where specialist companies started to operate according to a defined set of standards and regulations.

Development of AMCs

From 1998 to 1999, the Chinese government created 10 AMCs^[1] in China. 4 as bad banks,^[2] one for each of the four commercial state-owned banks. and 6 Fund management companies. As of 2018 there are over 130 asset management companies in china, with a combined US$2 billion in assets under management.

The original asset management companies include:

• China Great Wall Asset Management^[3] - for the Agricultural Bank of China
• China Orient Asset Management^[4] - for the Bank of China
• China Cinda Asset Management^[5] - for the China Construction Bank
• China Huarong Asset Management^[6] - for the Industrial and Commercial Bank of China
• Guotai Asset Management
• China Southern Asset Management
• HuaAn Fund Management
• Bosera Asset Management
• Penghua Fund Management
• China Asset Management

Other AMCs that were established later on include:

• Changsheng Fund Management
• China Universal
• Dacheng Fund Management
• E Fund Management
• Fullgoal Asset Management
• Harvest Fund Management
• ICBC Credit Suisse Asset Management
• Tianhong Asset Management

See also

• Chinese financial system
• Insurance industry in China
• Economy of China
• State-owned enterprise

External links

• The opportunity in asset management in China

Notes and References

1. Web site: 2022-07-06 . Asset Management in China - KPMG Global . 2022-07-07 . KPMG . en-US.
2. Engbith, Lily S. (2021) "China: 1999 Asset Management Corporations," The Journal of Financial Crises: Vol. 3 : Iss. 2, 485-496. Available at: https://elischolar.library.yale.edu/journal-of-financial-crises/vol3/iss2/23
3. Web site: :::财通天下 智融长城——中国长城资产管理公司::: . Gwamcc.com . 2013-08-21.
4. Web site: 中国东方资产管理公司 . Coamc.com.cn . 2013-08-21 . dead . https://web.archive.org/web/20130828084404/http://www.coamc.com.cn/ . 2013-08-28 .
5. Web site: Home . cindamc.com.cn.
6. Web site: 华融首页 . Chamc.com.cn . 2013-08-21.