The Rise of the Mutual Fund in China
Aggregated Source: China Venture News
January 10, 2008|
The mutual fund industry mushroomed in China in 2007, acording to Channel News Asia.
China's total mutual fund assets in 2007 grew from 865 billion yuan at the start of the year to 3.3 trillion yuan (about 450 billion US dollars) at year's end. That means the mutual fund industry's value in China quadrupled last year.
The growth is attributed to the desire of Chinese citizens to get thier money out of traditional bank deposits and into the stock market. A report published in the China Securities Journal said that 83 percent of people they surveyed in China viewed mutual funds as a first choice for wealth management. The survey involved about 15,000 people.
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China's total mutual fund assets in 2007 grew from 865 billion yuan at the start of the year to 3.3 trillion yuan (about 450 billion US dollars) at year's end. That means the mutual fund industry's value in China quadrupled last year.
The growth is attributed to the desire of Chinese citizens to get thier money out of traditional bank deposits and into the stock market. A report published in the China Securities Journal said that 83 percent of people they surveyed in China viewed mutual funds as a first choice for wealth management. The survey involved about 15,000 people.
See full article.
Related Entries:
Hedge fund facts from the morning Paper - 20 May 2005
Gotta Get Your Mutual Fund Ideas from Somewhere - 24 July 2006
What Good is a Mutual Fund That Just Sits on Cash? - 27 July 2006
School ties and investing - 27 June 2007
Contents of this feed are a property of Creative Weblogging Limited and are protected by copyright laws. Violations will be prosecuted. Please email us if you'd like to use this feed for non-commercial activities at feeds - at - creative-weblogging.com.
Original URL: Click here to visit original article
Copyright China Venture News
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