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, 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. - 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 Credit Suisse Asset Management
  • Tianhong Asset Management

See also

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

References

  • The opportunity in asset management in China