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Non-government capital management companies: Current situation, obstacles and policy options (No 54, 2015)


By Zhu Hongming, Research Team on "Study of Non-government Financial Development in China", Research Institute of Finance of DRC

Research Report No 54, 2015 (Total 4739)


Emerging in regional finance reform in recent years, non-government capital management companies are new types of non-government financial organizations, aiming at promoting non-government capital to develop in a healthy and standardized way. Currently the pilot project of non-government capital management companies has already spread from Wenzhou of Zhejiang Province to Shandong Province and Yunnan Province, some cities of Zhejiang Province, Quanzhou of Fujian Province and Ji'an of Jiangxi Province. Among them Shandong Province has witnessed the greatest boom of the pilot project as the number of non-government capital management companies and scale of registered capital have already occupied 80% of the total pilot areas in China. However, there are a lot of challenges confronting non-government capital management companies, such as some obstacles for the implementation of related policies, single investment mode, poor financial channels and low leverage ratio. In order to promote these non-government capital management companies to develop in an orderly manner, it is suggested to adjust relevant policies, strengthen supervisions and improve the policy mix for the non-government capital management companies.