China’s wealth management market: Too big to be ignored

June 2023

The wealth management industry in China is entering a distinct era of robust growth as asset and wealth managers continue to seize the burgeoning opportunities in the country. With this, rampant wealth creation in the country, a shift in investor expectations and mindsets, and conducive business environment are propelling exponential growth opportunities for international asset and wealth managers. Undoubtedly, we are witnessing a revolution in the wealth management market in Mainland China with various factors reshaping the landscape and acting as enablers for growth. This is providing a catalyst for industry players to revitalise their China market strategy.

When deciding on next steps, be it through operating in China or raising capital from Chinese investors for investing offshore, pursuing a tailored approach is vital and simply replicating a tried and tested strategy used in other markets may not necessarily be appropriate. Various aspects of the wealth management market in Mainland China must be well understood before success can be found and this includes sizing the market of each segment, competitor dynamics, licensing and regulations, as well as the numerous market access channels available.

Contact us

Matthew Phillips

Mainland China and Hong Kong Financial Services Leader, PwC Hong Kong

Tel: +[852] 2289 2303

Jane Xue

Asia Pacific and China Asset and Wealth Management Industry Leader, PwC China

Tel: +[86] (21) 2323 3277

Marie-Anne Kong

Hong Kong Asset and Wealth Management Leader, PwC Hong Kong

Tel: +[852] 2289 2707

Matthew Wong

China Asset & Wealth Management Tax Leader, PwC China

Tel: +[86] (21) 2323 3052

Julie Chan

Partner, PwC Hong Kong

Tel: +[852] 2289 2432

Frank Shan

Partner, PwC China

Tel: +[86] (21) 2323 3487

Rex Ho

Asia Pacific Financial Services Tax Leader, PwC Hong Kong

Tel: +[852] 2289 3026