政府新闻
上海成为全球资产管理中心 2023-10-16
Shanghai is making good progress as it transforms into an international financial hub and global asset management center, according to a recent report.
Shanghai has the most complete range of financial institutions in China, according to the Shanghai Global Asset Management Center Construction Report released on Oct. 12 at the 2023 Shanghai Global Asset Management Forum. The report analyzed Shanghai’s progress in terms of the concepts, practices, technologies and platforms of the Asset Management Association of Shanghai as well as Chinese and foreign institutions.
Shanghai has strategic advantages to becoming a global asset management center that are similar to those of New York, London, Singapore, Amsterdam and Boston, especially considering its history as an East Asian financial center in the 1930s, it said.
Shanghai had CNY35.9 trillion (USD4.9 trillion) in assets under management in the six categories of bank wealth management, insurance capital management, trusts, brokerage private asset management, public funds and private funds, as of the end of last year, accounting for 28.4 percent of the country’s total.
There were 1,736 financial institutions operating in Shanghai at the end of 2022, around one-third of which were foreign-funded. And as of November 2022, some 86 international asset managers had enrolled in Shanghai’s Qualified Foreign Limited Partners Pilot Project, which allows foreign institutional investors to convert overseas capital into Chinese-yuan denominated funds that can be invested in domestic markets, and 59 Chinese asset managers were enlisted in its Qualified Domestic Limited Partners Pilot Project, a trial outbound investment scheme.
Source: Yicai Global
