Assets under management in China have grown an incredible 60% over the past three years, and while growth won’t continue at this rate, it will still increase at a clip of 24% a year over the next 10 years.

That’s according to a recent report from McKinsey, which says that the investment management industry will be the fastest growing segment of the financial services industry in the nation, China Daily reports. While the brokerage and mutual fund industry has expanded at a tremendous rate in the past two years, there’s room for even more growth, since the Chinese have 79% of their assets socked away in low-yielding bank accounts and only 3% of household assets are currently invested in mutual funds.

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