The 2022 Qingdao China Wealth Forum took place on July 30. Experts and scholars on wealth management as well as famous entrepreneurs gathered in Qingdao to exchange mutual opinions discuss cooperation and seek common development under the theme of Wealth Management in the New Era”.

Following the approval of the Qingdao Wealth Management Financial Comprehensive Reform Pilot Zone four months ago, the Jinjialing Wealth forum was born accordingly in June, 2014 and upgraded to the Qingdao China Wealth Forum in 2015which continues up till now. Since then Qingdao has continued to make breakthroughs in wealth management policy innovation institution gathering,environment optimization risk control and prevention established a diversified wealth management institution system led by professional asset management institutions in addition to strengthening the conventional financial sector, expanded wealth management service scopes and created the globe-oriented wealth management central city frame work in the main Qingdao.which made the GFCI 31list for the first time in March2016 secured the 38th place among global financial centers in the latesteditionofGFCI31 and has been ranked among top 50 global financial centers for 11 times.

According to statistics, Qingdao’s balance of local and foreign currency deposits took the lead to surpass RMB2.5tln by the end of April, 2022and hit RMB 2.6018tln by the end of June 2022increasing by RMB192.9bln over the beginning of 2022; Qingdao’s loan-to-deposit ratio of local and foreign currencies has reached 105.4%outperforming the national average by 23 percentage points.

Furthermore, Qingdao has worked on the multilayered capital market construction, shifted from focusing on indirect financing to laying equal stress on direct and indirect financing and expanded remarkably the direct channels for social wealth to flow into the real economy through the stock market bond market capital funds and wealth management By the end of June 2022, Qingdao has boasted 431 private fund managers registered with the Asset Management Association of China and filed on record 1,985 private funds totally worth RMB 178.765bln.

Source：International Daily