China's asset management industry sees slower growth as regulation tightens

Updated 2018-01-12 17:01:03 Xinhua

China's asset management business expanded more slowly last year as authorities tightened regulations.

Asset management business stood at about 53.6 trillion yuan (8.25 trillion U.S. dollars) at the end of 2017, up 3.5 percent, according to the Asset Management Association of China.

The growth was markedly slower than the 30 percent seen in 2016.

In breakdown, publicly offered funds came in at 11.6 trillion yuan by the end of last year, while private equity management businesses totalled 30.9 trillion yuan.

The slower growth came as authorities work to contain risks arising from wealth management products, with regulators identifying and punishing illegal activity.

In November last year, draft guidelines unified rules covering asset management products issued by all types of financial institutions, requiring them to set leverage ceilings.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58December 13 2018 11:51:32

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16December 13 2018 11:51:32

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18December 13 2018 11:51:32

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords