Report

Asset Management in China 2022

Effective Strategies for Differentiation

Access China's Dynamic Asset Management Market

  • View a competitive analysis of foreign managers in China, including updates of wholly foreign-owned fund management companies and wholly foreign-owned enterprises as private fund managers
  • Evaluate regulatory developments and product innovation
  • Explore trends in environmental, social, and governance (ESG) integration and green investing

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Report US Private Banks and Trust Companies 2020 Detail

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Manni Huang

Manni Huang

Associate Director, Account Management, Asia

Summary

This report focuses on one of the biggest and most dynamic asset management markets in the region—China. It examines regulatory developments and their effects on the asset management industry, key retail product and distribution developments, institutional demand, and cross-border product and distribution opportunities.

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A Note from the Author

Bank Wealth Management Products: Reform & Reemergence

Pan Yanjun

Pan Yanjun

Analyst

Bio →

Pan Yanjun

Pan Yanjun

Analyst

Yanjun has more than six years of experience in the financial services industry, including asset management and wealth management. Before joining Cerulli, she worked at Huatai-Pine Bridge Fund and Industrial and Commercial Bank of China in Shanghai, with a focus on marketing and sales. She is fluent in English and Mandarin.

Full biography here.

Despite going through major reform, bank wealth management assets in China continue to grow. As of June 2022, bank wealth management product (BWMP) assets amounted to $4.4 trillion and the number of investors nearly doubled from 41.6 million in 2020 to 81.3 million in 2021, reaching 91.5 million in the first half of 2022. Broad distribution networks, a need for yield that’s higher than deposits, ease of access, and the popularity of bank WMPs have enabled resilient demand, enabling this segment to compete well with mutual funds.

Cooperation between leading domestic bank wealth management subsidiaries (BWMSs) and giant foreign asset managers provides opportunity for foreign institutions to expand in the Chinese market and enhance their brand awareness. In addition to cooperation, the research finds that BWMSs’ outsourcing activities to fund management companies (FMCs) are expected to grow over the next few years, even as they try to build in-house research and investment capabilities.

As local and foreign players break into the market, we see competition tightening, not just in distribution, but also in internal investment capabilities. Maintaining a strong brand name and a good track record, as well as working with more product, distribution, and asset management partners, will be key to accelerating growth in this market. To learn more about what your firm should consider when evaluating this market, explore these findings and more in our latest report.

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