May 5th saw the advent of a significant moment for China’s fund industry when over ten heavyweight organizations in the fund industry in China covering fund industrial surveillance institutions, fund industrial associations, leading companies and authoritative financial media, co-launched ‘the most potent voice’ in fund industry，namely, the Declaration on Social Responsibility of China's Fund Industry (shortened as the Declaration) that aggregated the minds and responsibilities of practitioners of fund industries in modern China. It was formally released at the 20th anniversary since gestation of fund industry in China.

The Declaration was launched in Beijing Fund Town, chaired by Chen Weihong, a famous host of CCTV. More than 30 top-notched fund companies in China read out the Declaration solemnly led by Hong Lei, Party Committee Secretary and President of Asset Management Association of China, and Zheng Fushi, Deputy Secretary General of Asset Management Association of China.

Chen Weihong, a famous host of CCTV

2018 marks the 40th anniversary for the reform and opening-up. As one of the major attainments grabbed for reform and opening-up, Chinese fund industries have gone through 20 years since their inception in 1998. In the past two decades, fund industries in China showed a speedy progress from 0 to around RMB 54.2 trillion Yuan and its staff has grown to around 300,000 now. In recent years, the industry is mushrooming and has been on a par with banking, security and insurance sectors. It has grown into one of the four major pillars for modern financial systems.

Finance is the major core of competitiveness in a nation and financial safety is the major constitute for national safety. At the Party’s 19th National Congress’ request, we should work on the financial monitoring system and stick to the baseline of avoiding systematic financial risks. The basic requirement of the financial sector of socialism featuring Chinese characteristics in the new era under the leadership of Xi Jinping is the scientific deployment for combining general rules of financial development and practice and probing for financial reform in China, the behavioral guidance for instructing steady development of financial reform, and the basis for financial work in the new era. The prevention of systematic financial risks is the basic task and the perpetual theme in financial work.

Hong Lei, Party Committee Secretary and President of Asset Management Association of China.

In recent years, the prevention of financial risks has become a top assignment for the fund industry in China. The launching of multiple items of state-level laws, regulations and norms on fund industry, setting-up the first fund industry tribunal in China and a variety of other moves provide a staunch guarantee to construct a good industrial order and optimize industrial ecological surroundings. At the same time, participants of fund industries in China should stick to professional spirits, execute the industrial responsibilities, gather consensus gather around power and shoulder epochal responsibilities for the scientific and sound development of fund industries in China to consolidate the foundation for future development of fund industries in China.

By releasing the Declaration, China’s fund industry, for the first time, publicly announces its historical mission and social responsibility to the world; the experience summarization and self-innovation of China’s fund industry over the past 20 years; the solemn commitment and solemn oath for China’s fund industry to enter the new era of socialism with Chinese characteristics.

The content of the Declaration

A Summary of the Declaration is as follows :

Announce to the public, fund raising for people; integrity is the base, fund is the return.

Create value as profession, dedication because of trust.

For justice of the world, pursuit for perfection; creation of values stems from foresight.

Responsibility congregates power , professionalism creates the future.