AMAC Emphasizes that All Members Should Strengthen Self-discipline

  The asset management industry in China experienced unprecedented growth in 2014 with the total AUM of fund management companies over RMB10 trillion, a growth rate of 101% compared to the previous year. To prevent systemic risk in the industry, CSRC strengthened the regular inspections and took administrative measures to address issues discovered from those inspections. Those administrative measures are to be differentiated from administrative sanctions. Those measures will improve risk awareness, risk control and investor protection, and promote the industry development. To effectively implement Chairman Xiao’s address of “Supervision Transformation as the Focus”, these regular inspections and administrative measures will become a new norm. AMAC would like to re-emphasize that all members of AMAC are to be cognoscente of self-regulatory rules, improve risk control and risk management at all levels, and continue to build an industry worthy of investors’ confidence and trust.