2007—2008年金融危机后,新的监管法规要求银行和保险公司降规模、降杠杆、降风险以避免下一次“大而不能倒”危机。非银行金融中介填补相应业务空白,十年内快速增长,其中资产管理机构居于中心位置。对此,本文讨论了资产管理业与系统性风险间的联系机制。 After the financial crisis of 2007-2008, the new regulatory requirements require banks and insurance companies to reduce their size, reduce leverage and reduce their risk so as to avoid the next crisis of “big and fail”. Non-bank financial intermediaries to fill the gaps in the corresponding business, rapid growth within 10 years, of which asset management institutions in a central location. In this regard, this article discusses the relationship between the asset management industry and systemic risk.