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 in China. 4 as bad banks,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 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 - for the Agricultural Bank of China China Orient Asset Management - for the Bank of China China Cinda Asset Management - for the China Construction Bank China Huarong Asset Management - 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 UBS Asset Management Tianhong Asset Management
See also Chinese financial system Insurance industry in China Economy of China State-owned enterprise
References
External links The opportunity in asset management in China