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Managing the wealth of families
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China’s family wealth management industry saw robust development in 2021 amid steady economic growth, a new private report says.
With the promotion of the “common prosperity” strategy and the continuous optimization of China’s 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’s 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’s GDP grew 2.3 percent in 2020 and is expected to grow 8 percent in 2021.
China is one of the world’s 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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