WANG Dongming, the Chairman of CITIC, gave advices to the opening-up of asset management market in China in session 6 "The Asset Management Boom: Innovation, Risks & Regulation" in the morning of March 27, 2015.

Wang believes that accumulation of wealth, the business cycle in the property investment, together with overcapitalization caused by the ageing population are the drivers of the asset management boom in China. For the benefits of the investors, he suggests China to introduce more financial innovation and open up the market for foreign products. To achieve both, Wang expects to see intensified regulations and looser administrative control in the near future.