Asset Management Sector Regains Steam to Hit $20.5 Trillion

China’s asset management industry got back on its feet in 2021 to record its first double-digit growth after nearly three years of industrywide shakeup as authorities brought the vast sector under a new regulatory framework.

The industry expanded 11% in 2021 to a record 134 trillion yuan ($20.5 trillion) at the end of 2021, according to a report issued jointly Friday by Boston Consulting Group and Everbright Bank. It was the first time the industry’s growth topped 10% since a set of overarching rules were issued in 2018 to tame the once unregulated market.