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September 16, 2019
TO: ICI Global MembersGlobal Operations Advisory Committee - Asia
ICI Global Pacific Chapter
ICI Global Regulated Funds Committee SUBJECTS: Distribution
International/Global
Investment Advisers RE: China Wealth Management 50 Forum in Beijing on 21st September 2019
In July this year, China’s State Council’s Financial Stability Development Commission Office, together with the People's Bank of China (PBoC), issued 11 measures concerning further opening of China’s financial services industry. One of these measures allows foreign investors to take a majority equity interest in “grandchildren” asset management subsidiaries of banks. This new measure is a subject of intense interest among Chinese banks and foreign asset managers.
China Wealth Management 50, a Chinese think tank, will host a closed-door forum on 21 September 2019 (2:00-7:00 p.m.) in Beijing for domestic and foreign financial institutions to share ideas with representatives from the PBoC, China Banking Regulatory Commission (CBIRC), China Securities Regulatory Commission (CSRC), State Administration of Foreign Exchange (SAFE), and academia on how to create an environment conducive to meaningful participation by foreign financial institutions in China’s financial services industry. The title of the forum is “Strategic Investment and Partnership of Global Players in the Chinese Asset Management Industry in the Context of Financial Opening.”
We understand that the organizers have issued an invitation to a number of global asset managers, most of whom are ICI Global members. For other members who are interested in sending a representative to participate in the forum, they should contact Madam SONG Shuang at 宋爽 songshuang@cwm50.cn.
Attached are the program details (in Chinese). Please note that the regulator representatives named in the program may be subject to change.
Alexa Lam
Chief Executive Officer, Asia Pacific
ICI Global