Asset management companies in China came into being in 1998. The founding of commercial Asset management companies (AMC; Chinese: 金融资产管理公司) established by the Ministry of Finance tasked with professionally managing third-party assets was a major landmark in the development of China's financial system. It marks a transition in Chinese regulation away from an unregulated environment toward a system where specialist companies started to operate according to a defined set of standards and regulations.

Development of AMCs

From 1998 to 1999, the Chinese government created 10 AMCs^[1] in China. 4 as bad banks,^[2] one for each of the four commercial state-owned banks. and 6 Fund management companies. As of 2018 there are over 130 asset management companies in china, with a combined US$2 billion in assets under management.^[1]

The original asset management companies include:

• China Great Wall Asset Management^[3] - for the Agricultural Bank of China
• China Orient Asset Management^[4] - for the Bank of China
• China Cinda Asset Management^[5] - for the China Construction Bank
• China Huarong Asset Management^[6] - for the Industrial and Commercial Bank of China
• Guotai Asset Management
• China Southern Asset Management
• HuaAn Fund Management
• Bosera Asset Management
• Penghua Fund Management
• China Asset Management

Other AMCs that were established later on include:

• Changsheng Fund Management
• China Universal
• Dacheng Fund Management
• E Fund Management
• Fullgoal Asset Management
• Harvest Fund Management
• ICBC Credit Suisse Asset Management
• Tianhong Asset Management