China's US$44 trillion market is opening up. Here's what to watch in 2020

  • 📰 The Straits Times
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 63%

United States News News

United States United States Latest News,United States United States Headlines

SHANGHAI (BLOOMBERG) - China's big bang opening of its US$45 trillion financial industry begins in earnest next year - a step-by-step affair that's unfolding just as economic strains threaten the promised windfall luring in global firms.. Read more at straitstimes.com.

SHANGHAI - China's big bang opening of its US$45 trillion financial industry begins in earnest next year - a step-by-step affair that's unfolding just as economic strains threaten the promised windfall luring in global firms.

Foreign financial firms may plow 7 trillion yuan to 8 trillion yuan of assets onshore in the next few years, Huang Qifan, vice president at China Center for International Economic Exchanges and former mayor of Chongqing, said this month. "There's no best approach clearly in sight" for fully foreign-owned life insurers, said Jimi Zhou, a partner of consulting at PwC China."The pie is big enough, but it depends on how you want to eat it."

ASSET MANAGEMENT Asset management is a hotter ticket. Foreigners will be able to apply for licenses to start wholly owned mutual fund management firms in April, or buy out local funds. Hedge funds already in business in China have found it difficult to amass assets that gravitate to local high-flyers.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 8. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China to scrap benchmark as rates shift toward market-led systemBEIJING (BLOOMBERG) - China's central bank ordered lenders to adopt a new loan-pricing regime for all credit from next year, marking an end to the previous benchmark and another step toward liberalising the financial system.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »