China's bank wealth management product scale hits 33.9 trillion yuan in September, equity-linked products lead growth
China's bank wealth management product (WMP) scale continued rapid growth in September 2024, reaching 33.9 trillion yuan as of September 21, up 168.6 billion yuan from August. Equity-linked products, especially "fixed-income plus equity" products, drove the expansion, adding 800 billion yuan in September and over 2 trillion yuan year-to-date. Analysts attribute growth to reallocation from maturing high-interest time deposits and rising household and corporate demand. Despite scale increases, wealth management companies have not seen proportional profit growth, with net profit diverging sharply among firms. Industry consensus focuses on controlling volatility and drawdowns while managing investor expectations.
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China's bank wealth management products see continued growth in September, equity-linked products lead expansion
According to data obtained by Shanghai Securities News, the scale of China's bank wealth management products (WMPs) continued to grow rapidly in September, following a strong August. As of September 21, the total number of outstanding WMPs reached 52,616, with total assets under management of 33.9 trillion yuan, an increase of 168.6 billion yuan from August. Equity-linked products, particularly 'fixed-income plus equity' products, are the main driver of this expansion, adding 800 billion yuan in September alone and over 2 trillion yuan year-to-date. Analysts attribute the growth to the reallocation of maturing high-interest time deposits and rising demand from households and corporations. Despite the scale increase, profitability for wealth management companies has not improved proportionally, with net profit growth diverging sharply. Experts from the China Development Institute and Gegu Fund Research suggest that future growth will depend on both capital supply and asset-side capacity, and that institutions must focus on controlling volatility and drawdowns while managing investor expectations.
Read sourceChina's bank wealth management product scale continues high growth in September, equity-linked products lead expansion
According to data obtained by Shanghai Securities News, the scale of China's bank wealth management products (WMPs) continued its high growth trend in September, following a strong August. As of September 21, the total market scale reached 33.9 trillion yuan, an increase of 168.6 billion yuan from August. Equity-linked products, particularly 'fixed-income plus equity' products, are the main driver of this expansion, adding 800 billion yuan in September alone and over 2 trillion yuan year-to-date. Despite the scale growth, wealth management subsidiaries are not seeing proportional profit increases, a phenomenon analysts attribute to the gap between attracting funds and converting them into returns. Researchers Chen Yingyi and Jiao Bing note that future growth will depend on both capital demand and asset-side capacity, with a consensus emerging among institutions to 'control volatility and control drawdowns' while managing investor expectations.
Read sourceChina's bank wealth management scale continues high growth in September, equity-linked products lead expansion
According to data obtained by industry insiders and reported by Shanghai Securities News on September 24, the scale of China's bank wealth management products has continued its high growth trend in September, following a strong August. Equity-linked (含权类) products are the main driver of this expansion. However, the rising scale has not yet translated into significant profit increases for wealth management companies. Analysts cited in the article state that converting scale growth into profit growth requires improvements in investment research, product design, and risk management capabilities. Looking ahead, the sustainability of the market's expansion depends on both changes in capital demand and the asset side's capacity to absorb funds. A consensus among institutions is to 'control volatility and control drawdowns,' and managing investor expectations is also deemed important.
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China's Bank Wealth Management Product Scale Continues High Growth in September
According to data obtained by industry insiders and reported by Shanghai Securities News via Cailianshe, the scale of China's bank wealth management products has continued its high growth trend in September, following a strong August. The incremental growth is notably driven by equity-linked products (含权类产品). However, despite the rising scale, wealth management companies have not seen a corresponding increase in profitability. Industry insiders noted that to convert scale growth into profit growth, institutions need to enhance their investment research, product development, and risk management capabilities.
Read sourceChina's Bank Wealth Management Products See Continued Growth in September, Equity-Linked Products Lead Expansion
According to data obtained by the Shanghai Securities News, the scale of China's bank wealth management products (WMPs) continued its high growth trend in September 2024, following a strong August. As of September 21, the total market scale reached 33.9 trillion yuan, an increase of 168.61 billion yuan from August. A key driver of this expansion is the surge in equity-linked products, particularly 'fixed-income plus equity' products, which added 800 billion yuan in September alone and over 2 trillion yuan year-to-date. Analysts attribute the growth to the reallocation of maturing high-interest time deposits and increased demand from residents and enterprises. Despite the scale increase, profitability for wealth management companies has not kept pace, with net profit growth diverging sharply among firms. Experts note that scale growth does not automatically translate into profit growth, which depends on investment and risk management capabilities. Looking ahead, the market's continued expansion will depend on both capital supply and asset-side capacity. Institutions are increasingly focusing on 'controlling volatility and drawdowns' as a key strategy, alongside managing investor expectations to avoid performance gaps.
China's Bank Wealth Management Products See Continued Growth in September, Equity-Linked Products Lead Expansion
According to data obtained by the Shanghai Securities News, the scale of China's bank wealth management products continued to grow rapidly in September, following a strong August. As of September 21, the total market stock of such products reached 33.9 trillion yuan, an increase of 168.6 billion yuan from August. Equity-linked products, particularly 'fixed-income plus equity' products, are the main driver of this expansion, adding 800 billion yuan in September alone and over 2 trillion yuan year-to-date. Analysts attribute the growth to the reallocation of maturing high-interest time deposits and increased demand from residents and enterprises. Despite the scale increase, profitability for wealth management companies has not improved proportionally, with net profit growth diverging sharply among firms. Experts note that scale growth does not automatically translate into profit growth, which depends on investment and risk management capabilities. Looking ahead, the market's expansion may be constrained by asset-side capacity and potential fund outflows at the end of the quarter. A consensus among institutions is to 'control volatility and control drawdowns,' while also managing investor expectations that low volatility does not mean no risk of losses.
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