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Hedge Fund Industry In China
The hedge fund industry in China was established in the early 1990s, and has so far undergone four stages: infancy, formation, rapid expansion, and adjustment and standardization. Categories Currently hedge funds in China fall into two categories. One is those companies backed up by the government, including brokers managing pooled property, trust and investment companies' trust and investment projects, and investment companies managing their own capital. The other is private hedge funds. Under the name of "Investment Consulting Company" or "Investment Management Company", they provide management for pooled property. Share of GDP Data showed that hedge funds account for 0.6% of the GDP in the US, 0.35% in Europe, 0.2% in Asia, while only 0.1% in China. It is expected that China's GDP would quadruple in 10 years time and hedge funds would be about 0.4% of the country's GDPIn this case, China's hedge funds would expand 12-fold, and place China second in the world for hedge fund inv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hedge Fund
A hedge fund is a Pooling (resource management), pooled investment fund that holds Market liquidity, liquid assets and that makes use of complex trader (finance), trading and risk management techniques to aim to improve investment performance and insulate returns from beta (finance), market risk. Among these portfolio (finance), portfolio techniques are short (finance), short selling and the use of leverage (finance), leverage and derivative (finance), derivative instruments. In the United States, financial regulations require that hedge funds be marketed only to institutional investors and high-net-worth individuals. Hedge funds are considered alternative investments. Their ability to use leverage and more complex investment techniques distinguishes them from regulated investment funds available to the retail market, commonly known as mutual funds and Exchange-traded fund, ETFs. They are also considered distinct from private-equity fund, private equity funds and other similar cl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ubiquant
Ubiquant () is a Beijing-based hedge fund management firm founded in 2012. It is one of the largest quantitative funds in China. Background Ubiquant was founded in 2012 by Wang Chen and Yao Qicong, former WorldQuant researchers. When Ubiquant first started it was mainly a self-operated commodity trading advisor. In 2014, Ubiquant completed its registration with the Asset Management Association of China. In 2016, Ubiquant launched its full asset management business which featured a wider product line including enhanced indexing and quantitative long/short equity strategies. In 2018, Ubiquant started moving toward using artificial intelligence (AI) methods under big data to drive transactions. From 2019 to early 2020, Ubiquant established its own AI laboratory called AI LAB and built a technical team to research the use of AI to come up with new trading strategies and products. It has also built a data laboratory. In November 2021, a SFC regulated subsidiary named Ubiqua ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Industry In China
The industrial sector comprised 36.5% of the gross domestic product (GDP) of the People's Republic of China in 2024. China is the world's leading manufacturer of chemical fertilizers, cement and steel. Prior to 1978, most output was produced by state-owned enterprises. As a result of the economic reforms that followed, there was a significant increase in production by enterprises sponsored by local governments, especially townships and villages, and, increasingly, by private entrepreneurs and foreign investors, but by 1990 the state sector accounted for about 70 percent of output. By 2002 the share in gross industrial output by state-owned and state-holding industries had decreased with the state-run enterprises themselves accounting for 46 percent of China's industrial output. In November, 2012 the State Council mandated a " social risk assessment" for all major industrial projects. This requirement followed mass public protests in some locations for planned projects or expan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
China Venture Capital Association
China Venture Capital and Private Equity Association (CVCA) is a Venture Capital industry trade group that itself says "promotes the interest and the development of venture capital ("VC") and private equity ("PE") industry in the Greater China Region." CVCA was founded in mid-2002 and is based in Beijing. Members As of 2008, CVCA has more than 150 member firms, which altogether manage over US$100 billion in venture capital and private equity funds. CVCA's member firms have experience in PE and VC investing worldwide and have made many investments in a variety of industries in China, including IT, telecoms, business services, media and entertainment, biotech, consumer products, general manufacturing Manufacturing is the creation or production of goods with the help of equipment, labor, machines, tools, and chemical or biological processing or formulation. It is the essence of the secondary sector of the economy. The term may refer ... and others. Mission CVCA's miss ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services In China
Financial services in China refers to the services provided in China by the finance industry: banks, investment banks, insurance companies, credit card companies, consumer finance companies, government sponsored enterprises, and stock brokerages. Securities trading The China Securities Regulatory Commission (CSRC) has required since 2004 that newly appointed CEOs, deputy CEOs, and heads of supervisory boards at locally incorporated securities firms all pass a Chinese language ability examination to take up their posts. In 2007, for example, Goldman Sachs partner Richard Ong was denied permission to take the job of CEO at Beijing joint venture Goldman Sachs Gao Hua Securities Co. because of his weak Chinese language abilities. Electronic banking In 1994, China started the "Golden Card Project," enabling cards issued by banks to be used all over the country through a network. The establishment of the China Association of Banks rapidly promoted the interbank card network and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking In China
China's banking sector had () in assets at the end of 2023. The " Big Four" state-owned commercial banks are the Bank of China, the China Construction Bank, the Industrial and Commercial Bank of China, and the Agricultural Bank of China, all of which are among the largest banks in the world . Other notable big and also the largest banks in the world are China Merchants Bank and Ping An Bank. History Supervisory bodies The People's Bank of China (PBOC) is China's central bank, which formulates and implements monetary policy. The PBOC maintains the banking sector's payment, clearing and settlement systems, and manages official foreign exchange and gold reserves. It oversees the State Administration of Foreign Exchange (SAFE) for setting foreign-exchange policies. According to the 1995 Central Bank law, PBOC has full autonomy in applying the monetary instruments, including setting interest rate for commercial banks and trading in government bonds. The State Co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commodity Trading In China
Commodity trading in China has a short but high-growth history. With an increasing product variety and deepening liquidity pools, the mainland's futures market is playing an increasingly important role in serving the national economy. At present, the commodity markets in China are still in a development stage, with only a few exchanges in China trading in a small group of commodities. In the next few years, the Chinese government will gradually allow more commodities products to be traded in China along with various related derivatives. Size Trading volume of the nation's three commodity futures exchanges totaled 40.97 trillion yuan in 2007, up 95% from the year before. The aggregate trading volume of these exchanges amounted to 728.46 million hands in 2007, up 62% over the previous year. More than half of the transactions took place on the Dalian bourse, while turnover on the Shanghai bourse amounted to 23 trillion yuan, accounting for half of the total. The boom of large t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Asset Management Association Of China
In financial accounting, an asset is any resource owned or controlled by a business or an economic entity. It is anything (tangible or intangible) that can be used to produce positive economic value. Assets represent value of ownership that can be converted into cash (although cash itself is also considered an asset). The balance sheet of a firm records the monetaryThere are different methods of assessing the monetary value of the assets recorded on the Balance Sheet. In some cases, the ''Historical Cost'' is used; such that the value of the asset when it was bought in the past is used as the monetary value. In other instances, the present fair market value of the asset is used to determine the value shown on the balance sheet. value of the assets owned by that firm. It covers money and other valuables belonging to an individual or to a business. ''Total assets'' can also be called the ''balance sheet total''. Assets can be grouped into two major classes: tangible assets and inta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yanfu Investments
Yanfu Investments (Yanfu; ) is a hedge fund management firm founded in 2019 that is headquartered in Shanghai. It is one of the largest quantitative funds in China. Background In 2010, Massachusetts Institute of Technology graduate Gao Kang was hired as analyst to work at Two Sigma in the U.S. On 5 February 2014 after winning a job at Citadel LLC in Chicago, Gao resigned from Two Sigma. Six days later, he was arrested during his exit interview. Two Sigma claimed Gao used decompiler programs to access unauthorized confidential code and made copies of them. Two Sigma obtained a copy of a letter from Gao to U.S. immigration officials indicating his intention to resign from his job and start a company in China. Gao plead guilty in exchange for a 10-month sentence. In 2015 Gao returned to China where he joined quantitative fund Ruitian Investment. He played a significant role in Ruitian Investment where in 2019, it became one of the four largest quantitative funds in China. In May ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minghong Investment
Minghong Investment (Minghong; ) is a hedge fund management firm founded in 2014 that is headquartered in Shanghai. It is one of the largest quantitative funds in China. Background In 2014, Minghong was founded by Qiu Huiming. Qiu holds a PhD in physics from the University of Pennsylvania and had previously worked in the U.S. for firms such as Millennium Management, LLC before returning to China to set up his own firm. Minghong did not immediately take off and for years was not one of the largest quantitative funds in China. In 2018, Jie Huanyu joined Minghong as investment director as well as shareholder where he obtained 30% of shares in Minghong. Jie previously worked as a quantitative researcher at Citadel Securities. During 2018, Minghong doubled its assets under management (AUM) after it moved to a medium-to-high frequency statistical arbitrage strategy that boosted excess returns by as much as 20 percentage points annually. In March 2019, Minghong expanded overseas ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lingjun Investment
Lingjun Investment (Lingjun; ) is a hedge fund management firm founded in 2014 that is headquartered in Beijing. It is one of the largest quantitative funds in China. Background Lingjun was founded in June 2014 by Cai Meijie who had previously worked at China International Capital Corporation and Penghua Fund Management. Its Chief investment officer, Ma Zhiyu, had previously worked at Millennium Management, LLC. According to the Asset Management Association of China website, the main owner of Lingjun is Cai Jianliang. However, Cai does not hold a position within the firm nor is his profile mentioned. Ma is also another owner via ownership of the investment companies that own Lingjun's equity. On 20 February 2024, the Shanghai and Shenzhen stock exchanges announced that Linjun was banned from buying and selling shares for three days. This came as a result of Lingjun selling 2.57 billion yuan ($360 million) worth shares within a minute between 9:30 a.m. and 9:31 a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
High-Flyer
Ningbo High-Flyer Quantitative Investment Management Partnership (Limited Partnership), doing business as High-Flyer, is a Chinese hedge fund company incorporated in February 2016. Its legal registration address is in Ningbo, Zhejiang, and its main office location is in Hangzhou, Zhejiang. It is the founder and backer of AI firm DeepSeek. History High-Flyer was founded in February 2016 by Liang Wenfeng and two of his classmates from Zhejiang University. They generated ideas of algorithmic trading as students during the 2008 financial crisis. The company has two AMAC regulated subsidiaries, Zhejiang High-Flyer Asset Management Co., Ltd. and Ningbo High-Flyer Quant Investment Management Partnership LLP which were established in 2015 and 2016 respectively. The two subsidiaries have over 450 investment products. In 2016, High-Flyer experimented with a multi-factor price-volume based model to take stock positions, began testing in trading the following year and then more broadl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
