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CFA Institute Co-Develops Guidebook for Overseas Asset Management Institutions Doing Business in Beijing

17 June, 2020
Beijing China

CFA Institute, the global association of investment professionals, has co-authored a guidebook for overseas asset management institutions doing business in Beijing. Jointly developed by the Asset Management Association of China, Beijing Asset Management Association, Beijing Private Equity Association, and CFA Institute, the Guidebook, entitled Beijing Guidebook for Overseas Asset Management Institutions, summarizes Beijing’s policies and measures for the support of financial institutions, as well as procedures of doing business in the city. It aims to serve as a key resource for firms and investment management professionals around the world to learn about and identify business opportunities in Beijing.

The Guidebook was launched Tuesday afternoon at the China-UK Asset Management Roundtable, an online event hosted by the Beijing Municipal Bureau of Financial Work and the City of London. The event was joined by nearly 100 participants, including representatives from the Beijing Municipal Government and financial regulatory units, executives from major asset management firms and financial institutions in Beijing, as well as representatives from the City of London. Dr. Yin Yong, Vice Mayor of Beijing and Lord Mayor of the City of London William Russell attended the event and delivered a speech online.

“Since its inception in 1947, CFA Institute has aimed to create an environment where investors’ interests come first, markets function at their best, and economies grow in a sustainable manner,” said Margaret Franklin, CFA, president and CEO of CFA Institute, who addressed the event virtually. “We have been honored to participate in the development of the Guidebook and we are excited for the contribution it will make to the growth of the investment management industry in China. Our collaboration is in line with our mission in China, as it helps to address the pressing need for investment professionals around the world to gain a better understanding of the dynamics of the industry in this increasingly globally influential market.”

As China’s financial sector continues to grow, driven by innovation, a rapidly growing middle class, and increasing urbanization, the demands for asset management have surged in recent years. At the same time, China has gradually opened up to foreign financial investment. Beijing, China’s capital city, has a massive market for asset management, with total under-managed assets around RMB 33 trillion, ranking highest in China. In addition, the total amount of family assets in Beijing available for investment is approximately RMB 16 trillion, accounting for 8% of China’s total. Beijing is ready to implement a range of innovative opening-up policies, as China’s only city in the comprehensive pilot program to open up the service industry. There are numerous financial institutions headquartered in Beijing, including banks, insurance companies, securities firms, public offering and private equity funds, and trust firms.

“This is an important milestone in the history of CFA Institute, underscoring our commitment to China and to the global asset management industry,” said LJ Jia, senior China country head, CFA Institute. “In China, we are extremely focused on supporting the rapid development of the investment industry. We do this through our CFA Program, continuous professional development, and collaboration or strategic partnerships with industry leaders.”

China is a key market for CFA Institute, driven by the increasing need for talent in the growing financial and asset management industry. CFA Institute formally set up an office in Beijing in 2015. Today, there are about 2,400 CFA charterholders in Beijing, accounting for 30% of China’s total.

About CFA Institute

CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion of ethical behavior in investment markets and a respected source of knowledge in the global financial community. Our aim is to create an environment where investors’ interests come first, markets function at their best, and economies grow. There are more than 170,000 CFA charterholders worldwide in 162 markets. CFA Institute has nine offices worldwide and there are 158 local member societies. For more information, visit www.cfainstitute.org or follow us on Twitter at @CFAInstitute , and on Facebook.com/CFAInstitute.