The China Fortune Media Group and the China Securities Journal recently convened the Forum on development trend of asset management industry for 2018. During the forum, experts from banks, securities firms, fund management companies, trust companies, insurance companies, and other financial institutions shared their opinions on a variety of issues including the current state and development trend of China’s asset management industry as well as the new changes to the regulatory rules.

Experts all agreed that the new rules for the regulation of the asset management is focused on the penetrating supervision, which has also been emphasized by the regulatory authorities all these days. Hence, they suggested that the asset manage industry must reinforce its foundation and develop a set of unified standards. According to the experts, the current situation is that there is still room for the regulatory arbitrage as a result of different standards implemented by different sub-industries. As for the levy of the added-value tax on asset management products, given the lingering questions on the levy of the add-value tax on asset management products and different opinions from consulting agencies on the taxable items and the calculation methods, experts expected more detailed rules for the issue.