At the same time, China's fund industry has gradually shown the following characteristics in the process of standardized development:
(A) Open-end funds came from behind and gradually became the mainstream form of fund establishment. At the end of 1998, there were 6 closed-end funds in China, with a total issuance scale of 654.38+0.2 billion yuan. At that time, there was no open-end fund in China. However, with the changes of the times, the era of closed-end funds has gradually changed into the era of open-end funds. Not only closed-end funds that have expired have been converted into open-end funds, but also with the deepening of investors' understanding of funds in China and the further development of China's capital market, China's open-end funds have begun to grow rapidly. By September 30th, 20 10, there were 652 domestic funds with funds investing in securities, with a total net value of about 2465438+. Among the 652 funds, there are 38 closed-end funds with a total net value of about 654.38+020.6 billion yuan; There are 6 14 open-end funds with a total net value of about 2,292.9 billion yuan, accounting for 95.00% of the total net value of all funds, occupying an absolute advantage.
(B) China's fund industry is opening faster and faster. This is mainly manifested in two aspects: on the one hand, Sino-foreign joint venture fund management companies have grown from scratch and the number has gradually increased. By the end of 20 10 and 12, there were 62 fund management companies in China, including 36 Sino-foreign joint venture fund management companies, accounting for 58% of all companies. On the other hand, in 2006, China's fund industry also embarked on an international voyage. At present, domestic fund management companies with qualified domestic institutional investor qualification (QDII) can invest in the international market by raising foreign currency funds, and fund companies can obtain high returns by scientifically allocating assets on a global scale.
(3) China's fund industry system tends to be stable on the road of gradual standardization; In the fierce competition, the corporate governance of fund companies gradually tends to be stable. This year is not only a year of fund expansion, but also a year of system innovation and product innovation. The national legislature and China Securities Regulatory Commission are promoting the revision of the Securities Investment Fund Law. The revision of the Fund Law is of great significance, which will expand the legal space for the development of the fund industry and create a more favorable institutional environment for the development of the industry. The institutional arrangements for fund management companies to promote industry innovation and development, such as diversified shareholding structure and various forms of fund organizations, are expected to be reflected in this revision. In such a big environment, the rapid development of fund companies gradually tends to be stable and normal. 20 10 is the year of innovation in the fund industry. It is not only the year of system innovation, but also the year of product innovation. The national legislature and China Securities Regulatory Commission are promoting the revision of the Securities Investment Fund Law. The revision of the Fund Law is of great significance, which will expand the legal space for the development of the fund industry and create a more favorable institutional environment for the development of the industry. The institutional arrangements for fund management companies to promote industry innovation and development, such as diversified shareholding structure and various forms of fund organizations, are expected to be reflected in this revision.