Banks account for most of China’s total asset management market, or one quarter of the 114 trillion yuan of assets in 2016. Photo: AFP

China’s banking asset management sector to double by 2021, says McKinsey

Chinese banks are driven to grow the fee-based income segment, as they strive to reduce reliance on traditional credit business

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Banks account for most of China’s total asset management market, or one quarter of the 114 trillion yuan of assets in 2016. Photo: AFP
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