In 2022，as China’s mutual fund industry enter the stage of high-quality development，relevant policies are introduced successively focusing on high-quality development of the industry. Meanwhile，the implementation of personal pension policies will bring long-term stable money to mutual funds. Under the market shock in 2022，the scale of newly issuance of mutual funds declined significantly on a year-on-year basis，but the fund scale remained resilient，and fixed-income products were favored by investors due to their low-risk characteristics. On the channel side，banks are still the main sales channel of mutual funds，but the channel landscape is being reshaped，and independent sales agencies are constantly seizing market shares. At the same time，with the newly issuance cooling down，some funds meet the needs of investors and activate the remaining funds by adding Class C shares；online live broadcast and short video are still the focus of all platforms；the concessionary products represented by individual pension funds have been introduced continuously. Looking ahead to 2023，given the growth of residents’ financial assets，the expansion of the industry’s license，and the improvement of market infrastructure，the number of participants and the scale of the mutual fund industry will continue to grow，and the share of mutual funds in the field of large asset management will further increase. In terms of products，products will be increasingly diversified，and equity products will develop rapidly；at the same time，personal pension，REITs and other products will also take advantage of the policy to maintain growth. In terms of channels，the industry will give way to investors. The bank-mutual fund cooperation will continue to deepen，and the buy-side investment adviser will drive the upgrading of the business model.