China Asset Management Report 2022
Total AUM by the members of Asset Management Association of China (AMAC) stood at RMB68 trillion, or US$10.79 trillion, at the end of 2021. By our estimates, China now is the world’s fourth largest asset management market, after the US, Luxembourg, and Ireland. It is also the second largest onshore market, next only to the US. AMAC lists fund management companies (FMC), registered private fund managers (PFM) and securities companies as its members, but does not account for sub-scale PFMs. Neither does it include the third-party assets managed by insurance asset management companies (AMC), pension insurers, wealth management companies (WMC) or trust companies. If these assets are included, then the size of China’s asset management industry is closer to RMB100 trillion, or US$16 trillion. Compared with 2020, industry’s AUM has grown by 15.25%, the fastest in 6 years. Most of the growth was achieved on the back of sustained demand for mutual funds and private funds, as we