China Huarong girds against upstarts

Huarong chairman Lai Xiaomin tells FinanceAsia that the country's largest asset manager faces tougher competition from new market entrants.

China Huarong girds against upstarts
Lai Xiaomin

China Huarong Asset Management, the country’s largest asset management company, is set to face stiffer competition from new market participants as the nation’s financial industry evolves into a more complex structure, chairman Lai Xiaomin told FinanceAsia.

China’s four largest asset management companies have long enjoyed total domination in the industry due to their close ties with the central government and policy banks, which allows them to secure bank funding at lower rates...

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