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Managing the wealth of families
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China鈥檚 family wealth management industry saw robust development in 2021 amid steady economic growth, a new private report says.
With the promotion of the 鈥渃ommon prosperity鈥 strategy and the continuous optimization of China鈥檚 laws and regulations in the financial sector, the industry is welcoming huge development opportunities, according to a joint report by wealth management company Honghu Best Global Family Office and information platform The Asian Banker.
And the country鈥檚 stable macroeconomic environment has provided a solid guarantee for the sound and steady operation of family wealth offices.
The latest International Monetary Fund data shows China鈥檚 GDP grew 2.3 percent in 2020 and is expected to grow 8 percent in 2021.
China is one of the world鈥檚 largest savings markets and one of its fastest growing wealth management markets.
The report said the global family wealth management industry continues to grow in the face of the COVID-19 pandemic, with more efficient internal management and new trends.
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