Recruiting in China

Chinanews, Shanghai, Nov. 9 - In a recent report released by Mercer Oliver Wyman, the company predicts that over the next nine years, financial assets will increase sixfold in China and by 2015, the newly increased financial assets owned by Chinese individuals will account for 10% of the total newly increased financial assets in the world, making China the world¡¯s second largest financial management market next to the United States.

The report analyzes that Chinese people have a high tendency to save money. In China, the deposit rate exceeds 20%, nearly ten times that of the United States. The high deposit rate coupled with Chinese robust economy will make the total financial assets expand rapidly in China. Related information shows that at present, Chinese people¡¯s total financial assets reach nearly 3 trillion US dollars (excluding real estate properties). Since most Chinese people like to buy things in cash, the scale of financial assets managed by financial institutions is still relatively small at present.

Based on experiences learned from other developing countries, Mercer Oliver Wyman predicts that as the per capita GDP rises, the proportion of cash in Chinese people¡¯s assets composition will become smaller in future. As a result, the financial assets management market will boom. In addition, changes of policies in regulating the floating assets in China are also likely to change the developmental mode of the assets management market in China fundamentally.

Looking from global range and the situation of the Asian-Pacific region, the report envisions a prospective market for Chinese financial management in future. It says that by 2015, the capital asset in the investment management sector will increase from 300 billion US dollars at present to 2 trillion US dollars by then and the investment products will include funds, pensions and insurance