China has approved a new financial pilot zone for wealth management in the city of Qingdao.
The zone has been approved by the eleven ministries and commissions, including the National Development and Reform Commission in China.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Qingdao government said that the financial pilot zone aims at increasing wealth management demand and boost innovation in the financial industry.
Additionally, the zone will support development of diversified wealth management firms and participation of private capital to create a professional wealth management market in the city.
The move will also allow the government to strengthen risk control in protecting investors’ rights and interests, in addition to improving international cooperation and paying attention to talent cultivation.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
