Download → Shanghai Guidebook for Overseas Asset Manager 2023

Shanghai released the Guidebook for Overseas Asset Managers 2023, the latest version of its guide to help overseas asset managers understand the necessary preparations and application procedures for engaging in asset management services in Shanghai and the city's business policies and relevant professional service institutions, at the Shanghai Global Asset Management Forum today.

The emphasis of the guidebook is once more on foreign investment and local integration in Shanghai, with the major updates focusing on the latest regulatory policies, pilot initiatives, and industry data.

The Shanghai Guidebook for Overseas Asset Management was first released in 2020. It is updated every year with new laws, regulations, and data.

In terms of policy upgrading, this year's guidebook added qualified foreign limited partnership and qualified domestic limited partnership pilot schemes, new rules on foreign exchange management, policies on the integration of domestic and foreign currency management and other cross-border investment, key contents and framework of the Regulation on the Supervision and Administration of Private Investment Funds, and the new stamp duty and other tax-related reforms and benefits.

Regarding financial infrastructure, the guidebook's latest version included new instruments such as Swap Connect and Exchange-Traded Funds Connect, Cross-Border Interbank Payment System business, and the trading systems and valuation products of the Shanghai Stock Exchange and the China Securities Index company.

In terms of data, the guidebook introduces China's foreign direct investment inflow, bond holding in the wealth management market and inter-bank market, the latest data on China's wholly foreign-owned and joint venture fund companies, and information on existing private managers and the cross-border pilot scheme of QFLP.

Shanghai's financial market had a gross domestic product of CNY862.7 billion (USD118.2 billion) last year, and its aggregate turnover grew 16.8 percent to CNY2,932.98 trillion (USD401.78 trillion) from the previous year, according to the latest edition of the Shanghai Guidebook for Overseas Asset Management.

At the end of 2022, Shanghai ranked first in the world in terms of initial public offering proceeds and among the top three cities by trading volume in spot gold and crude oil futures, the guidebook showed.

Seventy-one of the 157 public fund management firms in China were based in Shanghai as of the end of June, according to the guidebook. They managed 4,261 public fund products with total assets under management of CNY10.05 trillion (USD1.38 trillion).

There were 4,046 personal finance managements registered in Shanghai as of June 30, managing 43,300 funds with a total AUM of CNY5.27 trillion (USD721.9 billion).