Comrade Yin Yong pointed out in his speech that Beijing is the national financial management center. According to the data of the fourth national economic census just released, as of 20 18, the total financial assets in Beijing were 148 trillion, accounting for half of the country. Beijing has unique advantages in developing asset management industry in many aspects, such as regulatory policy, headquarters economy, opening to the outside world, asset allocation and business environment. The establishment of Beijing Asset Management Association plays an important role in promoting the high-quality development of capital asset management industry, maintaining national financial security and stability, promoting the international opening and cooperative development of China's financial industry, and forming new advantages of China's financial development. In the future, under the guidance and support of the national financial management department, Beijing will actively undertake the pilot task of national financial reform and opening up, continue to create a world-class business environment, and promote Beijing's asset management industry to become better and stronger.
Relevant responsible comrades of the state financial management department congratulated the establishment of Beijing Asset Management Association. It is pointed out that the establishment of Beijing Asset Management Association is an important achievement of Beijing's financial reform and development, which is conducive to providing a research exchange platform and communication and coordination mechanism for the development of asset management industry, and plays an irreplaceable role in promoting asset management industry to serve the real economy, prevent and control financial risks, and standardize development. It is hoped that the Association will fully rely on Beijing's advantages in financial policy environment, financial institutions and financial talents to make more contributions to the transformation and development of the asset management industry.
China Banking Association, China Insurance Association, China Insurance Asset Management Association, China Fund Industry Association, Hong Kong China Financial Association, European Fund Industry Association, Asian Securities Industry and Financial Market Association, British Investment Association (IA) and many other domestic and foreign asset management institutions and industry associations congratulated Beijing Asset Management Association on its establishment. Howard, founder of Oak Capital? London Mayor Max Lowe and other international experts specially sent congratulatory letters.
The first batch of founding members of Beijing Asset Management Association is 60, spanning banking, securities, insurance, funds, trusts and other industries, covering the most important asset management institutions at home and abroad. The scale of assets managed by member units reaches trillions, and it is the first self-regulatory organization of "Big Asset Management" industry with the largest scale, the strongest comprehensive strength and the widest coverage in China.
The promulgation and implementation of 20 18 new asset management regulations unified the regulatory framework and standards, and reshaped the ecological and competitive landscape of the asset management industry. At present, China's asset management industry includes bank financing, brokerage asset management, insurance asset management, Public Offering of Fund, private equity fund, trust and other industries. After the introduction of the new regulations on asset management, China ushered in a "big asset management era" with unified supervision. The establishment of Beijing Asset Management Association broke through the scope of the original management industry for the first time, complied with the regulatory requirements of the new era, and achieved industry self-discipline across all fields of "big asset management".
The members of Beijing Asset Management Association are very representative. Including 1 1 bank subsidiaries of industry, agriculture, China, construction and postal services, dozens of domestic head offices such as China Life Asset Management, China PICC Asset Management, Taikang Asset Management, CITIC Securities, CICC and CITIC Construction Investment, as well as internationally renowned institutions such as Credit Suisse Oriental and Oak Capital. It represents the overall strength of China's asset management industry and is a veritable "country" of the asset management industry.
The establishment of Beijing Asset Management Association is of great significance to the opening up of China's financial industry. Asset management is the fastest growing field in the global financial industry in the last 20 years, and the total market size has reached nearly 1000 billion US dollars. Internationally, "asset management" is usually regarded as an independent financial license. In recent years, with the acceleration of the opening-up of China's financial industry and the innovative development of asset management industry, bank wealth management, insurance asset management, funds and other fields have gradually been fully liberalized to foreign capital. More than half of the 1 1 opening measures announced by the State Council Financial Committee in 20 19 are directly related to the opening of asset management industry. Foreign-funded asset management institutions can participate in financial asset management companies, wealth management companies, pension management, insurance asset management, Public Offering of Fund, private equity funds and other fields through equity participation, holding or sole proprietorship, and apply for various asset management licenses from different regulatory agencies to operate in groups under the pattern of large asset management. The establishment of Beijing Asset Management Association provides an exchange and docking platform for international asset management institutions to quickly get familiar with the China market and conduct business, which will serve the establishment and development of domestic asset management institutions in Beijing.
With the spread of the global epidemic, the attraction of China's financial market to foreign investment is increasing. Many foreign financial institutions choose to set up asset management and related institutions in Beijing. In 20 19, Goldman Sachs established Beijing Merwin Asset Management Co., Ltd., and Oriental Huili was established in Beijing in Fenghuili Investment Consulting (Beijing) Co., Ltd. Since the beginning of this year, during the epidemic, Oak Capital, a world-renowned investment institution, has established Oak (Beijing) Investment Management Co., Ltd. in Beijing, which is the first financial institution registered in China under the English name since the implementation of the Foreign Investment Law on June 5438+1October 0 this year. A few days ago, Prudential Group, Britain's largest life insurance company, landed in Beijing, becoming the first joint venture insurance asset management company to settle in Beijing this year. In addition, the application for the bank card clearing business license of Know-it-all Network Information Technology (Beijing) Co., Ltd. has been approved. At the end of last month, Goldman Sachs was allowed to increase the foreign shareholding ratio of Goldman Sachs Gaohua from 33% to 565,438+0%; This week, Credit Suisse was allowed to increase its stake in Founder Securities of Credit Suisse to 565,438+0%. At present, there are three foreign-controlled joint venture securities companies in Beijing: UBS, Goldman Sachs and Credit Suisse. Generally speaking, foreign-funded institutions will continue to be optimistic about China, especially Beijing, as a national financial management center and asset management center, which has unique attraction to international asset management institutions. In the future, they will continue to expand their business layout in Beijing, make use of the policy advantages of Beijing's service industry expansion comprehensive pilot and free trade zone, and provide global asset management services for China investors. It is understood that since this round of opening up, more than 30 financial institutions such as foreign asset management have landed in Beijing.