Share this on Twitter Share this on Facebook Share this on LinkedIn Share this on Sina Weibo Share this on Wechat Share this on LinkedIn China’s asset managers are growing fast.Credit: Kevin Dooley, Creative Commons China’s asset management industry is undergoing explosive growth. With its economy and export market humming, the stock market soaring, and household wealth expanding, the nation’s fund management companies now have more than $2 trillion in assets under management, up from about $1.3 billion in 1998, when the government first allowed six firms to begin building the industry. By 2025, the size of China’s fund management business could double, according to the Boston Consulting Group (BCG). And with Beijing liberalizing its financial markets and loosening restrictions on foreign financial firms doing business here, the race is now on to capture share in the world’s fastest growing market. Although Beijing’s relations with Washington have soured during the past four years, over human rights, Covid-19 and economic sanctions, China has courted Wall Street and global financial firms with promises of greater access and more control over their local operations. Firms like BlackSubscribe or login to read the rest. Subscribers get full access to: Exclusive longform investigative journalism, Q&As, news and analysis, and data on Chinese business elites and corporations. We publish China scoops you won't find anywhere else. A weekly curated reading list on China from David Barboza, Pulitzer Prize-winning former Shanghai correspondent for The New York Times. A daily roundup of China finance, business and economics headlines. We offer discounts for groups, institutions and students. Go to our Subscriptions page for details.