| China's assets management business to reach 1.4 trillion USD in decade |
BEIJING, March 17 (Xinhua) -- China's assets management business is expected to reach 1.4 trillion U.S. dollars in ten years, according to a recent report by international consultants McKinsey & Company.
China's current assets management market is worth 156 billion U.S. dollars and is expected to grow at an annual rate of 25 percent over the next decade, the report predicts.
Individuals will tend to invest in financial products with higher profit margins such as mutual funds instead of depositing their money in the bank, the report said.
Investment reforms are creating a favorable environment and China's capital market is undergoing quick and continuous development, it said.
These three factors contribute to the boom of China's assets management business, McKinsey said while pointing out that the market may fluctuate in the short term since China's capital market has not yet matured.
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