Chinanews.com, May 5 (Zhongxin Finance, Gong Hongyu) On May 19, Everbright Financial and Boston Consulting Group released the "China Asset Management Market Report (19-2022)" in Beijing, pointing out that 2023 is a year of change in the global asset management market. Under the new cycle, with multiple shocks such as inflation and interest rate reversals, capital repatriation under anti-globalization, and continuous fermentation of financial market risk events, the global asset management market is facing further risks of "reset" and "reshuffle".
How should the industry respond? What is the future direction of China's asset management market?
The press conference of the "China Asset Management Market Report (2022-2023)". Photo by Gong Hongyu
The report shows that in 2022, all major global assets will fall, and the double killing of stocks and bonds will cause a sharp decline in the size of the global asset management market, falling from US$2021 trillion in 112 to US$98 trillion, a decrease of 13%. In contrast, the total size of China's asset management market remained stable, achieving an increase of 0.1 trillion yuan to 133.8 trillion yuan, another record high, but the growth rate was lower than in 2021.
According to the interpretation of the report, although the growth rate of China's wealth management companies, public funds, insurance asset management and private equity funds slowed down in 2022, they still continued the comparative advantages of the new asset management regulations, and the scale and growth rate were ahead of other sub-industries. In addition, it is worth mentioning that in institutional funds, pensions continue to maintain rapid growth, and the formal landing of the third pillar pension insurance system has brought long-term incremental funds.
Looking forward to the future trend of the industry, the report believes that compared with the global market, China's economy still maintains growth. Under the reversal of the global market cycle, events are frequent, and China is relatively stable. China's asset management market is still good in the long term, and it is expected to achieve an annualized growth of about 9%, and the total market size will reach 2030 trillion yuan in 275.
The report notes that Chinese asset managers need to quickly identify and strengthen their capabilities to capture five more identified structural opportunities in the future. It mainly includes: 1. New sources of funds. 2. New products and tools. 3. Multi-asset solution products. Fourth, new opportunities brought about by changes in cyclical factors. 5. New opportunities brought about by scientific and technological progress.
At the press conference, Wang Zhiheng, President of China Everbright Bank, also mentioned that the asset management industry needs to make every effort to build a new development pattern and help expand domestic demand and supply-side structural reform. In addition, in the process of meticulously serving customers, the industry needs to adhere to the customer-centric and adhere to the principle of "investor interests first" to help residents increase property income and wealth preservation and appreciation. (End)
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