PR.com: Business Directory, Press Releases, Jobs, Products, Services, Articles
 
Businesses Articles Press Releases Follow @PRcom
Press Release Pricing | News by Category | News by Country | News by US Region | Recent News | PR.com News on Your Site
 

Press Releases

 
BDP Global

Press Release


Receive press releases from BDP Global: By Email RSS Feeds:

BDP Global Take Aim at China’s Burgeoning Wealth Management Market


China’s wealth management products rose to a record $3.9 trillion earlier this year and are still growing the products’ value rose 11.8 percent in the first half from the end of last year.

Hong Kong, Hong Kong S.A.R., December 14, 2016 --(PR.com)-- Douglas Bancroft, BDP Global’s Chief Investment Officer said, “This year’s new rules have forced the closure of around 10,000 Chinese private wealth management firms since early February, this leaves a massive hole in the market and opens up doors for us to gain a major foothold in the mainland.”

Rising defaults and fraud in the insufficiently regulated sector force China to tighten entry norms for companies.

The 10,000 private wealth management firms that were shut down were due to China’s tightening of entry norms for firms in a bid to check the rising defaults and fraud in the insufficiently regulated sector.

Private wealth management firms, called “private fund raising companies” in China, are essentially asset managers supervising the funds raised from the general public. Their investment targets include the stock, bond and property markets, Douglas Bancroft said “This is where we see our opportunity; by taking advantage of our focused expertise in this area we believe we can fill a significant gap in the market.” He went on to say “We have built a solid reputation in Hong Kong and have good connections in China’s mainland which gives us a firm position with which we have formulated a strategy that will enable us to take advantage of the current situation.”

“The (private wealth management) sector has developed quickly in China in recent years...But the companies’ qualities vary...” the Asset Management Association of China (AMAC) said in a recent statement. AMAC is the self-regulatory association of fund management companies in China.

“Some companies have registered with the association without a true willingness to develop their asset management business. Some companies do not meet the basic operation standards, while some companies are running irrelevant businesses like peer to peer lending, private lending, or even illegal businesses under the cover of private hedge fund firms,” the statement said.
Contact Information
BDP Global
Terry Lee
+852 2213 5482
Contact
bdpglobal.com/index.html

Click here to view the list of recent Press Releases from BDP Global
Promote Your Business