Australia offers helping hand for the growth of China

​China has been projected to double by 2020 in their wealth, a federal budget help Australian fund manager for tap into this huge market. The previous year, China’s middle class overlaps the US to become largest populated county in the world, with 109 million middle class adults compare US with 92 million, this was according to Credit Suisse’s annual yearly report on the distribution of global wealth. In 2014, RMB Qualified Foreign Institutional Investor quota of RMB50 billion was allocated by Australia.
*  Satisfying China’s growing affluent population
There is a much larger opportunity for Australian fun managers for creation of wealth management products for China’s growing middle class. The Federal Budget contained a new original that could materially lift the transport earnings from Australia’s $2.65 trillion fund management industry. 
*  CIVs – international best practice
For implementing a tax and regulatory framework, the budget is allocated for $9.8 million. This is for two new types of Collective Investment vehicles (CIV). Australia’s superannuation industry has grown up into a world-class retirement saving model. Also in China, where the lack of assets, low returns and growing affluent population are resulting in huge pools of capital for investment.