According to the Asset Management Association of China, the assets under the management of China’s public offering funds have reached a remarkable 27.25 trillion yuan, which is approximately equivalent to $3.95 trillion. This signifies a substantial increase from previous years, indicating a positive trend in the growth of China’s asset management industry.
As of the end of January 2023, there were 10,607 public offering funds being operated by 142 fund management companies. The data also revealed that closed-end funds had a scale of over 3.58 trillion yuan, while open-end funds accounted for approximately 23.67 trillion yuan.
The association further stated that out of the 142 fund management companies, 47 were foreign-funded, and the remaining 95 were domestic firms. This indicates the growing interest of foreign investors in China’s asset management industry, which has been a crucial factor in driving its growth.
Furthermore, the association’s data suggests that China’s asset management industry is poised to continue its expansion in the coming years, particularly as the Chinese government continues to promote financial market reforms and opens up more opportunities for foreign investment.
Overall, China’s public offering funds have demonstrated impressive growth and success, with the industry showing no signs of slowing down. This presents a wealth of opportunities for both domestic and foreign investors looking to participate in China’s thriving asset management market.