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China’s Banking Asset Management Business to Hit $9 Trillion by 2021

China’s Banking Asset Management Business to Hit $9 Trillion by 2021

China’s banking asset management will double by 2021 to almost $9 trillion or 60 trillion yuan, according to a report release by Mckinsey.  The growth is supported by strong demand for investment products and banks’ drive to increase fee-based income.
” Asset Management in Banking to double by 2021 to $9 Trillion “
In 2016, banks held almost 25% of 114 trillion yuan (assets).  Other than the banks, major players in the asset management industry includes fund management firms, insurers and trust firms.

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