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"China's wealth management industry will embrace a historical transition of business models and a comprehensive restructuring of its ecosystem. The establishment of ABC Wealth Management is an important measure taken by the Agricultural Bank of China to carry out supply-side structural reform in the financial sector, further implement new regulations on the asset management industry, push for high-quality development of the real economy, and actively tackle changes in the wealth management industry," said Zhou Mubing, chairman of Agricultural Bank of China, the country's third largest commercial lender by assets.
"Compared with its rivals, VIPKID has gained a lead. However, it faces some challenges in that the company is trying to expand its business to small-size private classes," he said.
"Chinese parents are obsessed about education, something that is based in the culture," said Jeff Zhu, vice-president of Shanghai-based Dipont Education Management Group. "It has always been perceived as the main, if not the only, ladder, for the elevation of social status."
"China's insurance depth, which was calculated by the premium to GDP rate, was over 4 percent last year, while the global average was over 6 percent," Rui said. "Also seen from the lens of average number of policies per capita, the number in the United States reached 6 while that of China was fewer than 1."
"China's growth is set to stabilize," said Cheng Shi, chief economist at ICBC International.