银行理财规模站上30万亿

Core Insights - The banking wealth management market has shown growth in both scale and investor numbers, with a total size of 30.67 trillion yuan as of June 2025, reflecting a 2.38% increase from the beginning of the year and a 7.53% year-on-year increase [1][4] - The number of investors holding wealth management products reached 136 million, an increase of 8.37% from the start of the year, generating a total return of 389.6 billion yuan for investors in the first half of 2025 [1][4] - Personal pension wealth management products have seen significant growth, with over 1.439 million accounts opened, a 46.2% increase since the beginning of the year, and a total purchase balance of 110.36 billion yuan [1][11] Wealth Management Product Structure - The wealth management market has a strong focus on stability, with fixed-income products dominating, accounting for 97.20% of the total scale, and low-risk products making up 95.89% of the total scale [4][5] - The average duration of newly issued closed-end wealth management products ranged from 377 to 489 days, with closed-end products over one year accounting for 72.86% of all closed-end products, an increase of 5.71 percentage points from the beginning of the year [8][9] Investor Preferences and Market Dynamics - Investors are gravitating towards low-risk, stable-return products due to the current low interest rate environment and market volatility, with a notable preference for fixed-income products [5][6] - The shift in investor demographics is expected to be gradual, requiring favorable economic conditions, competitive research capabilities from wealth management firms, and a growing understanding of risk and return among younger investors [7][10] Pension Wealth Management Products - The development of personal pension wealth management products is supported by government policies, with an average annualized return exceeding 3.4% for these products [11][12] - The market has seen active participation from wealth management companies, with 35 personal pension products launched, managing over 15.16 billion yuan [11][12] - The future of pension wealth management products is expected to focus on net value management and transparency, enhancing compliance and reducing non-market operations [12][13]