Financial news
Recently, the Banking Industry Financial Management Registration and Custody Center released the "China Banking Industry Financial Management Market Annual Report (2023)" (hereinafter referred to as the "Report"). The "Report" shows that as of the end of 2023, the existing size of the bank financial management market will be 26.80 trillion yuan. In 2023, the overall income of financial products will be stable, creating a cumulative income of 698.1 billion yuan for investors. Industry insiders predict that looking forward to 2024, deposit interest rates will be reduced and the scale of financial management is expected to grow rapidly. The scale of financial management is expected to exceed 30 trillion yuan by the end of 2024.
Fixed income products account for over 90% of the existing scale
Judging from the overall scale of the wealth management market, as of the end of 2023, there were 258 banking institutions and 31 wealth management companies across the country with existing wealth management products, with a total of 39,800 existing products, an increase of 14.86% from the beginning of the year; the existing scale was 26.80 trillion yuan. Among them, fixed income products have the highest existing scale. As of the end of 2023, the existing scale of fixed income products is 25.82 trillion yuan, accounting for 96.34% of the existing scale of all financial products; the risk level is Level 2 (medium-low) and below The existing scale of wealth management products is 24.87 trillion yuan, accounting for 92.80%.
Most of the individual investors are prudent investors
As of the end of 2023, the number of investors holding financial products reached 114 million, a year-on-year increase of 17.84%. From a structural point of view, as of the end of 2023, the financial management market is still dominated by individual investors, with a number of 113 million, accounting for 98.82%; the number of institutional investors has slightly increased, with a number of 1.346 million, accounting for 1.18% .
As of the end of 2023, the largest number of individual investors holding financial products are still investors with a risk preference of Level 2 (stable), accounting for 33.95%. Judging from the financial management income that investors are most concerned about, in 2023, the overall income of financial products will be stable, creating a cumulative income of 698.1 billion yuan for investors. Among them, banking institutions have created a cumulative income of 173.9 billion yuan for investors; wealth management companies have created a cumulative income of 524.2 billion yuan for investors, a year-on-year increase of 0.85%. In each month of 2023, the average return rate of financial products is 2.94%.
"The scale of financial management is expected to grow rapidly in 2024, or more bond assets may be allocated." Liao Zhiming, chief analyst of banking industry at China Merchants Securities, analyzed that looking forward to 2024, the deposit interest rate will be reduced, the scale of financial management is expected to grow rapidly, and the scale of financial management may exceed the historical level. At the high point, the scale of financial management is expected to exceed 30 trillion yuan by the end of 2024.
Text/Wang Chuhan, all-media reporter from Guangzhou Daily