Shanghai eyes 55 trln yuan asset management mkt

By SHI JING in Shanghai and JIANG XUEQING in Beijing |

China Daily |

A night view of Shanghai's financial hub. BAO GANSHENG/FOR CHINA DAILY

Shanghai's continued efforts to develop the asset management industry, driven by enriched product supply and optimized financial infrastructure, will facilitate the country's high-quality economic growth and further consolidate the city's role as a global financial center, said analysts and experts.

Their comments were regarding the set of guidelines released by the Shanghai municipal government on Tuesday, which set the target of a 55-trillion-yuan ($8.1 trillion) asset management market in the city by 2030. This value will equal one-third of the country's total by that time, making asset management a new landmark of Shanghai.