Global Trustee and Fiduciary Services News and Views Issue 50

Prime, Futures and Securities Services | Financial Services Regulation 96 Rewarding opportunities There can be few bigger, better or more rewarding opportunities for global fund managers than to successfully enter the Mainland China funds markets. However, as all those that have done business in or with China know, there can be many complications along the way. There is no easy way to overcome these obstacles, other than through patience and stamina, and by having sufficient resources to get established. Clearly, too, it is important to find knowledgeable and trustworthy advisers to help provide guidance with the challenges to be faced. China has travelled a long way in the asset management space over the last 25 years, and looks set to continue the journey of growth and expansion through the inclusion of non-Chinese firms. The regulators regularly cite the need for greater competition, professionalism and experience so global firms can make a difference to these markets. But participation requires reward. Given the existing scale and potential growth, there surely must be opportunities for all those who make the effort to participate. Stewart Aldcroft Senior Advisor, Asian Fund Management Industry Citi Markets and Securities Services Cititrust Limited, Hong Kong 1 “Leadership in Times of Plenty: Future Winners in China’s Asset Management Industry” from http://www.caseyquirk.com . 2 “China to Broaden Market Access for Foreign Investors in Financial Services” from www.globalpolicywatch.com. 3 “China Pledges to Allow More Foreign Investment in Financial Sector by Year-End” from https://uk.reuters.com. 4 “Governor Yi Gang Announced Measures and Timetable for Further Financial Sector Opening-Up in Boao Forum for Asia” from http://www.pbc.gov.cn/english/130721/3517991/ index.html. Link here . 5 http://www.pbc.gov.cn/goutongjiaoliu/113456/113469/ 3529600/index.html (Chinese only). Link here . 6 As above footnote plus “Global Asset Managers in China: Riding The Waves Of Reform” from www.oliverwyman.com . 7 UBS Global Research Q-Series Chinese Financial Services Sector, 4 April 2018. 8 UBS Global Research Q-Series Chinese Financial Services Sector, 4 April 2018. 9 CSRC, PBoC, CIBRC. 10 As above footnote. 11 Leadership in Times of Plenty. Global Asset Managers in China. 12 http://www.amac.org.cn/cms/site/preview?ID=23. 13 Leadership in Times of Plenty. 14 As above footnote.