“存款搬家”到哪一步了？

Core Insights - The article discusses the evolving trend of "deposit migration," where depositors are increasingly moving funds from traditional savings accounts to higher-yielding financial products, particularly in the context of a recovering stock market [2][3]. Group 1: Market Trends - The shift from direct bank-to-bank transfers to more complex investment strategies is noted, with a focus on wealth management products that offer higher returns [2]. - The issuance of mixed financial products has increased, with the scale of mixed products rising from 6470.76 billion yuan at the end of June to 6548.11 billion yuan by the end of September, reflecting a growth of 77 billion yuan [2]. - Analysts predict that the allocation of wealth management funds to equity markets could exceed 100 billion yuan from the second half of this year through 2026, despite direct investments in stocks being at a five-year low [2][3]. Group 2: Product Issuance and Demand - A significant increase in the issuance of equity-related financial products has been observed, with 13 products launched this year compared to only 2 last year, highlighting a growing interest in themes like high dividends and AI [3]. - The active engagement of 25 wealth management companies in A-share listed company research, with over 2000 research instances, indicates a strong focus on sectors such as semiconductors, healthcare, and renewable energy [3]. - The trend of "deposit migration" is further supported by the rising popularity of mixed financial products, as clients shift funds from maturing fixed deposits to these higher-yielding options [3]. Group 3: Future Outlook - Predictions suggest that high-yield fixed deposits will reach maturity between 2025 and 2026, potentially leading to a significant shift of deposits into more liquid forms or non-bank deposits [4]. - The strategic adjustment of wealth management towards active management and equity investment is closely tied to macroeconomic conditions, policy directions, and changing client needs [3].