DEEP DIVESExclusive to Strategy Plans
July 30, 2019
In late June this year, Alipay announced that its wealth management platform offered over 4,000 wealth management products from 100+ asset management companies. This is interesting since there are only 124 asset management firms in China, as observed by the Asset Management Association of China. Today, WealthTech startups have created their impact on China’s financial ecosystem – by not only catering to companies but also individual consumers.
To give you an overview, according to Ernst and Young, the Asia-Pacific region in the wealth management market is growing at three times the rate compared to the rest of the world. Moreover, the wealth of China alone will be similar to the present-day US by 2030. Last month, we published an article on some of the top WealthTech startups in the US, which lead this market with $9.4 trillio ...