Asset management in China

rdf:langString Asset management in China

rdf:langString Asset management companies in China came into being in 1998. The founding of commercial Asset management companies (AMC; Chinese: 金融资产管理公司) 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. The Chinese government created 10 AMCs in China. 4 as bad banks, 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 2 billion USD in assets under management. The original asset management companies include: * - for the Agricultural Bank of China * China Orient Asset Management - for the Bank of China * China Huarong Asset Management - for the Industrial and Commercial Bank of China * China Cinda Asset Management - for the China Construction Bank * Bosera Asset Management - Fund management company * China Asset Management - Fund management company Other private equity firm and trustee companies also existed in China, such as: * CITIC Group and its subsidiary CITIC Trust, formerly China International Trust Investment Corporation * Ping An Trust of Ping An Group