China News Agency, Berlin, July 9 (Reporter Peng Dawei) The World Economic Forum released a report on the 8th that China's asset management industry is about to undergo a major transformation, personal investment will become more mature and rational, and the domestic real economy will be able to use a new type of professionally managed capital pool To promote future economic growth; in the post-epidemic era, this transformation is particularly important. The report also pointed out that the Guangdong-Hong Kong-Macao Greater Bay Area can play a leading role in developing China's pension system, opening up cross-border financial products, and increasing the depth of offshore RMB capital pools to help shape China's future economic development.
This report, entitled "China's Asset Management Industry Enters the Turning Point of Development", was jointly prepared by the World Economic Forum and Oliver Wyman. Kai Keller, the head of the "China and World Financial Services Future" initiative of the Beijing Representative Office of the World Economic Forum, and Peter Reynolds, the managing partner of Ovi and the director of Greater China, introduced this through an online media briefing. The main content of the report.
The report points out that the asset management scale of China's asset management industry has increased by a factor of 10 over the past decade, leaving many other markets unmatched. At the same time, bank savings deposits still dominate China's wealth accumulation. But at the same time, bank deposits are gradually being released, which will certainly promote the rapid growth and maturity of the asset management industry.
The report analyzes that China's asset management industry is at an inflection point, with multiple rounds of transformation going hand in hand. It is characterized by a further increase in the proportion of institutional customers, gradually replacing retail customers, and occupying a dominant position; the continuous expansion of distribution channels and the proliferation of active asset management companies Shadow banking's shift to capital market-driven financing and the growing cross-border links between China and the global market.
The report believes that regulators in Mainland China and Hong Kong should strengthen cooperation to create a level playing field for domestic and foreign capital market participants in the Guangdong-Hong Kong-Macao Greater Bay Area, which will help promote the participation of more dynamic global institutions and thus deepen The opening of China's financial market has paved the way for the renminbi to become international. (Finish)