On the afternoon of June 9, Qi Bin, Deputy General Manager and Deputy Chief Investment Officer of China Investment Corporation, attended and delivered a speech at the sixth "New Trends in Global Asset Management Industry" of the 14th Lujiazui Forum Plenary Meeting.

Fang Xinghai proposed several opinions for the construction of Shanghai Global Asset Management Center:

Firstly, the high-quality development pattern of asset management business has preliminarily formed:

The pattern of asset management industry has become more reasonable; Further standardize the private equity asset management business. According to statistics, the development momentum of public and private funds in China is good, with the scale of assets under management reaching 27.29 trillion yuan and 20.75 trillion yuan, respectively, increasing by 1.4 times and 0.8 times in the past five years. The management scale of private equity asset management business has reached 13.77 trillion yuan.

Fang Xinghai mentioned that from the perspective of business entities, various types of capital are competing to enter the asset management industry, further improving the inclusivity and competitiveness of the market.

From the perspective of business structure, equity investment and Eco-investing grew strongly.

From the perspective of professional management capabilities, asset management institutions pay more attention to the construction of proactive management capabilities, actively leverage the risk control advantages of investment research products, and provide medium to high yield products through refined strategies such as themes, industry styles, and quantitative hedging. Professional differentiation promotes the diversified development of asset management.

Secondly, private equity funds actively invest in small and medium-sized innovative enterprises:

Fang Xinghai introduced that in recent years, the role of China's asset management industry in promoting innovative growth of enterprises has become increasingly prominent. With the establishment of the Science and Technology Innovation Board and the Beijing Stock Exchange, as well as the comprehensive implementation of the registration system, the functions of the capital market have become more sound, and the role of the fund industry in the direct financing system has become more prominent. Private equity venture capital funds actively invest in small and medium-sized innovative enterprises, injecting strong innovation momentum into the real economy.

Third, asset management is of great significance to the construction of Shanghai IFC:

According to a recent report from Boston Consulting Group, the global asset management industry has grown by 80% in size from 2012 to 2021; And China's asset management scale has increased from 2.9 trillion US dollars to 18.1 trillion US dollars, a 5-fold increase; In the past decade, the proportion of China's asset management scale in the world has increased from 4.6% to 16.1%.

Data shows that there are a total of 143 public fund management companies in China, of which 62 are headquartered in Shanghai, accounting for 43%. The assets managed by Shanghai fund management companies account for 39% of the total assets managed by all fund management companies in the country. There are a total of 38 foreign-owned private equity fund management companies in China, with 36 headquartered in Shanghai.

Fang Xinghai believes that the above data shows that Shanghai is the most important stronghold of our national public fund management company. The scale of the global asset management industry is growing very fast, which is an opportunity for Shanghai IFC. Asset management should become the key direction of the construction of Shanghai International Financial Center, and different types of investment strategies should be encouraged to show their ingenuity to create good returns for investors on the basis of strict compliance with laws, regulations and trading rules.