2021 is the beginning of China's 14th five year plan and the end of the transition period of the new asset management regulations. In order to fully reflect the financial management market of Bank Of China Limited(601988) industry in 2021, the banking financial management registration and custody center organized and prepared the annual report of Bank Of China Limited(601988) financial management market (2021), reviewed the reform and development of Bank Of China Limited(601988) financial management market since the promulgation of the new regulations on financial management, and comprehensively summarized the financial management market of Bank Of China Limited(601988) industry in 2021, It also looks forward to the development of banking financial management market in 2022.
It is understood that on the basis of overall stable growth, the banking and financial management industry has achieved good reform results of returning to its origin, optimizing its structure, improving quality and efficiency. By the end of 2021, the scale of bank financial management market had reached 29 trillion yuan, a year-on-year increase of 12.14%; A total of 47600 new financial products were issued throughout the year, raising 122.19 trillion yuan of funds and creating nearly 1 trillion yuan of income for investors.
The annual report summarizes that the Bank Of China Limited(601988) industry financial management market in 2021 has the following characteristics: first, the efficiency of supervision has been significantly improved and the industry system has been improved day by day. The new regulations on asset management officially issued in 2018 opened the prelude to the reform in the field of asset management. The regulatory authorities continued to promote the unified standards of similar asset management products, establish and improve the systems and rules in terms of product issuance, sales management, investment operation and risk control, and effectively protect the legitimate rights and interests of investors.
Second, the bank's financial management business has returned to its origin, and the task of stock rectification has been basically completed. Under the supervision guidance of initiative and net worth established by the new asset management regulations, the rectification task of bank financial management business in the transition period has been basically completed, which is in line with expectations as a whole.
Third, the reform of subsidiary company system has been steadily promoted, and new steps have been taken in opening to the outside world. Since December 2018, the regulatory authorities have adhered to the principle of "one mature and one approved", and have approved the preparation of 29 financial management companies, of which 24 have been approved to start business. The opening-up of the financial industry has continued. So far, four foreign-controlled joint venture wealth management companies have been approved for preparation, of which three have been approved for operation.
Fourth, the number of financial investment increased rapidly, and the income from investment and financial management remained stable. By the end of 2021, the number of investors holding financial products (Note: only the financial products issued after October 1, 2018 are counted, and the monthly data are the data at the end of the month. The number of investors is the number of investors collected and weighted by various categories of investors across institutions) reached 81.3 million, a record high, with a year-on-year increase of 95.31%. Since the release of the new regulations on asset management, financial products have created a cumulative income of 3.61 trillion yuan for investors, including nearly 1 trillion yuan in 2021.
Fifth, the capacity of service entities has been steadily improved, and social responsibility investment has continued to expand. By the end of 2021, bank financing had supported the real economy by investing in bonds, non standardized creditor's rights, unlisted equity and other assets, with a capital scale of about 25 trillion yuan, equivalent to 8% of the stock of social financing scale in the same period.
Sixth, the construction of five platforms has achieved initial results, providing high-quality and efficient services to the financial management market. After the release of the new regulations on asset management, in order to help the transformation and development of the financial management market, the banking financial management registration and custody center took multiple measures to build and improve five service platforms and provide high-quality and efficient professional services for the banking financial management market.
Looking forward to 2022, the banking financial management registration and custody center will focus on the following three aspects to provide better services for the banking financial management market. First, increase the promotion and use of the central data exchange platform of financial products, promote more financial companies and consignment banks to access the exchange platform, do a good job in system operation and maintenance management, accelerate the phase II development of the system, and constantly improve the system functions. Second, on the existing basis, the pilot of pension financial products has been further expanded, and the financial registration center will strictly implement the work requirements of the regulatory authorities and solidly promote the pilot work of pension financial products. Third, further improve the construction of financial information disclosure platform, steadily promote the formulation of information disclosure industry standards, promote the establishment of centralized and unified information disclosure channels throughout the industry, improve the information transparency of financial products, and effectively protect the legitimate rights and interests of investors.
