| Growing rapidly, the newly emergent fund management industry in China has to-date accumulated RMB 320 billion (USD 38.6 billion) in assets under management. It is no surprise then that fund managers worldwide have their sights set on the vast potential of the domestic market.
As foreign firms look to tap into the nascent but potentially bullish industry, the easing of regulations within the industry as part of China?s WTO commitments is something much anticipated. As opposed to the previous 33%, foreign firms may now hold a maximum stake of 49% in a joint fund-management venture. All signs point towards tremendous growth and opportunities within China?s fund management industry.
This report therefore serves to provide foreign investors an in-depth understanding of this booming market. It is divided into five chapters and an appendix.
Chapter One provides a big picture of how China?s fund management industry has evolved into what it is now.
Chapter Two gives a framework of laws and regulations pertaining to the industry, as well as information on the relevant organizations.
Currently, the major investment vehicles for investment funds are stocks and bonds. These two related sectors and China?s banking system, which also plays a vital role as custodians and in the distribution of funds, are introduced in Chapter Three.
Chapter Four is a comprehensive review of China?s fund management industry as at September 30, 2004.
The performance of investment funds in 2004 is given in Chapter Five.
Finally, a complete list and detailed information of fund management companies and funds can be found in the Appendix.
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