上海市基金同业公会：海外资管机构赴上海投资指南（2025版）

Core Insights - The "Overseas Asset Management Institutions Investment Guide to Shanghai (2025 Edition)" serves as an official reference for foreign asset management institutions looking to invest in Shanghai, detailing the investment environment, industry dynamics, and regulatory policies in China and Shanghai [1][3][13]. Group 1: Economic Overview - China is a significant engine of global economic growth, with a projected GDP of 134.91 trillion yuan in 2024, contributing approximately 30% to global economic growth [1][21]. - The asset management market in China is expected to reach 154 trillion yuan in 2024, reflecting a robust demand for wealth management services among high-net-worth individuals [1][24][26]. Group 2: Shanghai's Financial Landscape - Shanghai, as a leading financial hub, boasts a GDP of 5.39 trillion yuan in 2024 and a high per capita disposable income, supported by a comprehensive financial market system and a favorable business environment [2][12]. - The city has 75 public fund management institutions managing 12.74 trillion yuan, accounting for nearly 40% of the national total, and 3,701 private fund managers with a management scale of 5.10 trillion yuan [2][12]. Group 3: Regulatory Framework and Support - The guide outlines the legal and regulatory framework for fund operations, including application processes for various fund types, tax policies, and resources for fund service providers, facilitating a comprehensive understanding for foreign asset managers [3][13][20]. - Recent policy updates include the expansion of investment scopes for Qualified Foreign Institutional Investors (QFII/RQFII) and the optimization of pilot programs for Qualified Foreign Limited Partners (QFLP) [13][30][40]. Group 4: Investment Opportunities - The guide emphasizes the growing wealth management needs in China, with the private banking sector's asset management scale exceeding 24 trillion yuan by the end of 2023, indicating a strong market for asset management services [1][24][26]. - The continuous improvement of cross-border investment mechanisms, such as the Stock Connect programs and the Bond Connect, enhances the accessibility of Chinese markets for foreign investors [30][36][39].