Asset management in China
Template:Short description Asset management companies in China came into being in 1998. The founding of commercial Asset management companies (AMC; Template:Zh) 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<ref name=":0">Template:Cite web</ref> in China. 4 as bad banks,<ref>Engbith, Lily S. (2021) "China: 1999 Asset Management Corporations," The Journal of Financial Crises: Vol. 3 : Iss. 2, 485-496. Available at: https://elischolar.library.yale.edu/journal-of-financial-crises/vol3/iss2/23</ref> 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.<ref name=":0" />
The original asset management companies include:
- China Great Wall Asset Management<ref>Template:Cite web</ref> - for the Agricultural Bank of China
- China Orient Asset Management<ref>Template:Cite web</ref> - for the Bank of China
- China Cinda Asset Management<ref>Template:Cite web</ref> - for the China Construction Bank
- China Huarong Asset Management<ref>Template:Cite web</ref> - 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