The evaluation report on China’s wealth management capability (2021) (hereinafter referred to as the “report”) recently released online by the Institute of International Monetary Studies of Renmin University of China compiled the “development index of China’s asset management industry”. The index shows that the overall index of China’s asset management industry increased by 578% from 2013 to 2021, showing a fluctuating upward trend. Among them, by the end of 2021, the asset management index of the fund industry was 1440.70, with a year-on-year increase of 22.60%, an increase of 1340% compared with 2013, and has always been the first echelon of development.
According to the analysis of the report, with the continuous improvement of the quality of China’s economic development and the continuous growth of residents’ investable assets, the wealth management industry has great development potential and is expected to further promote inclusive development. Among them, public funds with low threshold, standardization and strong liquidity have broad development space.
The report lists the top 100 institutions with wealth management ability, China Merchants Bank Co.Ltd(600036) ranks first with the total holding scale of public wealth management products of 2527.7 billion yuan, Industrial And Commercial Bank Of China Limited(601398) , China Construction Bank Corporation(601939) , Agricultural Bank Of China Limited(601288) , Bank Of China Limited(601988) , Bank Of Communications Co.Ltd(601328) , Industrial Bank Co.Ltd(601166) , followed by Internet agency ant fund in the eighth place. China Citic Bank Corporation Limited(601998) , Shanghai Pudong Development Bank Co.Ltd(600000) also ranked among the top ten. The report believes that the multi-channel pattern of wealth management is gradually becoming, and all parties complement each other’s advantages to jointly promote the development of the wealth management industry.
Chen Daofu, deputy director of the Financial Research Institute of the development research center of the State Council, said that China’s future wealth management market is huge, but profound structural changes are also taking place. For example, the elderly group with wealth accumulation is expanding rapidly, and the financial customers dominated by banks in the past have also been redistributed in the market; The market structure and organizational system of wealth management are not only reflected in the market competition in banking, securities, insurance, fund and other industries, but also in the changes of marketing channels such as digital economy and intelligent investment adviser
