In its second edition, the Chinese Family Office and Wealth Management Report 2021 delivers a rare glimpse into the dynamics of private wealth and family office engagement in China. It analyses current motivations, experiences, and changes in this space.
For example, the findings show that family offices, one of the most popular tools for professional wealth management, continue to expand rapidly. Three-quarters (75%) of those surveyed already manage their wealth through a family office (up from 64% last year) and among those who do not have a family office yet, 91% plan on setting one up in the near future.
Furthermore, the report finds that private wealth holders are driven by a desire to preserve wealth across generations with the implementation of succession planning being the number one priority for nearly half of survey respondents (49%). With that said, reflecting the early stage of professional wealth management in the country, many families still fall behind the curve when it comes to succession planning. Compared to a global average of 54%, merely 39% of the families in China surveyed have some form of succession plan in place. These are but a few of the many rich findings expressed within the report.
The report is available in English and Mandarin Chinese.