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Opportunities and challenges in China’s asset management

28 Aug 2013

Key panellists together with NUS Business School Dean and Stephen Riady Distinguished Professor Bernard Yeung (far left), NUS Deputy President (Academic Affairs) and Provost Prof Tan Eng Chye (3rd from right) and Prof Cherian (far right)
The fifth Wee Cho Yaw Singapore-China Finance and Banking Forum, organised by NUS Business School’s Centre for Asset Management Research and Investments (CAMRI), was held at The Ritz-Carlton Shanghai, Pudong, on 31 July 2013. Themed “China’s Asset Management Industry: The Opportunities and Challenges”, this year’s forum centred on the latest developments in the sector and its implications for asset managers and investors in Asia, particularly China and Singapore.

Topics discussed included the liberalisation and exponential growth of assets under management in China; future trends and the fiduciary obligations; China’s Qualified Foreign Institutional Investor (QFII) and Renminbi Foreign Institutional Investor (RFII) programmes; and the alignment and rationalisation of trust, insurance and other companies offering asset management products.

Said Director of CAMRI, Professor Joseph Cherian: “Following the phenomenal growth in fiduciary and private assets under management in China, and the recent announcement by the People’s Bank of China (PBOC) naming Singapore as the first regional financial centre outside China to have a yuan-clearing bank, many new opportunities have arisen for both countries' banks and asset managers. China’s regulatory environment and policies are also rapidly modernising to keep pace with the country’s development. This Forum provides an important platform for understanding the latest trends in asset management in the two countries in particular, and Asia in general.”

Moderated by Prof Cherian, the forum featured expert panellists which included Professor Anthony Neoh, Dean's Visiting Professor at NUS Business School and former Chief Adviser, China Securities Regulatory Commission; Dr Qian Jun, Chief Executive Officer, Hwabao Trust; Ms Jasmine Lim, Deputy General Manager, Ping An United Overseas Bank (UOB) Fund Management Company; Mr Peter Alexander, Managing Director, Z-Ben Advisors; and Mr Huang Jingsheng, Partner, TPG Growth and RMB Funds.

The Wee Cho Yaw Singapore-China Finance and Banking Forum was established in 2008 with a S$3 million donation from the then UOB Chairman, Dr Wee Cho Yaw, and his family. The inaugural Forum was held in Beijing in August 2010 in conjunction with the 20th anniversary celebration of diplomatic relations between Singapore and China. Since then, the venue of the annual event has alternated between the two countries.