• Home
  • News
    • People moves
    • Africa
    • Asia
    • Australia
    • Canada
    • Caribbean
    • Domicile
    • Europe
    • Latin America
    • North America
    • Middle East
    • US
    • US
    • UK
  • Products
    • Funds
    • Pensions
    • Platforms
    • Insurance
    • Investments
    • Private Banking
    • Citizenship
    • Taxation
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Directory
  • Video
  • Advertise with us
  • Directory
  • Events
  • European Fund Selector
  • Newsletters
  • Follow us
    • Twitter
    • LinkedIn
    • Newsletters
  • Advertise with us
  • Directory
  • Events
    • Upcoming events
      event logo
      International Investment Nordic Forum 2021

      International Investment is delighted to announce the 2021 International Investment Nordic Forum which will take place on Tuesday March 9, at 9am (GMT). This curated virtual event will be broadcast live and will feature a series of fund manager interviews and presentations, as well as interviews with some of the Nordic regions top fund selectors.

      • Date: 09 Mar 2021
      • ONLINE, ONLINE
      View all events
  • European Fund Selector
International Investment
International Investment

Sponsored by

Sharing Alpha
  • Home
  • News
  • Products
  • Fintech
  • Regulation
  • ESG
  • Expats
  • In Depth
  • Special Reports
  • Video
  • Wealth management

China's online wealth management index drops 23% as regulation tightens

China's online wealth management index drops 23% as regulation tightens
  • Pedro Gonçalves
  • @PeterHSG
  • 17 December 2018
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  

The China Internet wealth management index has fallen for the first time since 2013, recording a decline of more than 23% amid tighter regulation.

The index, which tracks the size of internet wealth management funds in proportion to the total financial assets held by Chinese citizens, declined to 563 points in 2018, down 23.5% from the peak level of 695 points in 2017, according to Yin Jianfeng, deputy director of National Institute for Finance and Development, local news outlet The Paper reported. It is the index's first fall since its creation, in 2013.

Related articles

  • Mobius: Why Brexit could offer silver lining for some
  • Coronavirus outbreak sends Chinese markets tumbling
  • MFS IM: Too Much, Too Fast
  • China restricting sales of overseas insurance to mainlanders

"The development of the internet wealth management market has been negatively impacted by the tightening regulations such as the campaign targeting P2P lending," Jianfeng said at a finance summit hosted by Tencent Holdings in Shenzhen, China.

"The development of the internet wealth management market has been negatively impacted by the tightening regulations such as the campaign targeting P2P lending"

In the two months from June to August, 243 online lending platforms closed amid an intensified crackdown on shadow banking, part of a broader campaign by the central government to reduce risk in the financial system, the SCMP reports.

"Poorly run platforms were forced to withdraw from the market. The numbers and growth have both declined," Jianfeng added. "However, from a longer term perspective, the strict rules will benefit the industry so it can develop in a healthier way."

The total size of the market is growing at a much lower rate than in the previous year, rising to 132trn yuan ($19.11trn) from 130 in 2017. In particular, investment trust, asset management in brokerages and separately managed accounts have fallen by 2, 1.2, and 2.7trn yuan, respectively.

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Send to  
  • Topics
  • Wealth management
  • China
  • National Institute for Finance and Development
  • Tencent Holdings
  • Shenzhen
  • Wealth

More on Wealth management

HSBC AM unveils new alternatives investment team

  • Alternative
  • 17 February 2021
UAE's new trusts law designed to 'support wealth management sector'

  • Wealth management
  • 11 February 2021
Quilter Financial Adviser School to offer digital courses

  • Wealth management
  • 11 February 2021
Liontrust expands multi-asset team and removes VAT from MPS

  • Wealth management
  • 02 February 2021
DeVere launches Kudos membership rewards club

  • Wealth management
  • 02 February 2021
Back to Top

Most read

Jersey regulator fines three firms for breaching money laundering rules
Jersey regulator fines three firms for breaching money laundering rules
RL360 parent IFGL in top level management restructure
RL360 parent IFGL in top level management restructure
HSBC Singapore CEO to leave for Saudi British Bank
HSBC Singapore CEO to leave for Saudi British Bank
Emerging markets funds 'in the vanguard' of ESG investing over next five years
Emerging markets funds 'in the vanguard' of ESG investing over next five years
J.P. Morgan Asset Management launches Global Income Sustainable Fund
J.P. Morgan Asset Management launches Global Income Sustainable Fund
  • Contact Us
  • Marketing solutions
  • About Incisive Media
  • Terms and conditions
  • Policies
  • Careers
  • Twitter
  • LinkedIn
  • Newsletters

© Incisive Business Media (IP) Limited, Published by Incisive Business Media Limited, New London House, 172 Drury Lane, London WC2B 5QR, registered in England and Wales with company registration numbers 09177174 & 09178013

Digital publisher of the year
Digital publisher of the year 2010, 2013, 2016 & 2017
Loading