China’s asset custody business booming, wealth investment product class tops assets under custody with US$622 billion

25 June 2012 | 1 minute read

As Chinese banks continue to expand and develop their asset custody business, assets under management (AUM) experienced a tremendous boost in 2011, with wealth investment products taking the largest share at RMB3.89 trillion (US$622 billion), according to the China Banking Association (CBA). In the asset custody business, banks serve as third-party entities that safeguard the entrusted assets and perform various…

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