The Shanghai municipal government office issued opinions to deepen Shanghai’s
development as a global asset‑management centre, pledging support for measures
to boost market supply and long‑term capital. It backs bank wealth managers
coordinating more closely with parent banks to expand diversified investment
capabilities; trusts expanding social and livelihood services; securities asset
broadening multi‑strategy and active management managers; and insurance asset
strengthening managers long‑cycle performance assessment and multi‑asset
allocation. It urges public mutual funds to shift emphasis from AUM growth to
investor returns and to launch more index funds, variable‑fee funds and other
innovations. It also encourages private equity and VC to focus on niche,
full‑cycle value‑add strategies and private securities funds to develop bespoke
strategies, while promoting asset managers that adopt rational, value and
long‑term investment approaches. The package aims to increase long‑term capital
market participation and cultivate a “long‑money, long‑investment” market
ecosystem.
