Zhong Guo Zheng Quan Bao·2025-11-03 12:11Group 1 - The core viewpoint is that the recent maturity of high-interest deposits is leading customers to diversify their investments into wealth management products, as these products currently offer higher yields compared to similar-term deposits [1][2][3] - The banking industry is experiencing a shift in deposit structure, with an increase in demand for wealth management products, stocks, and funds as alternatives to traditional savings [1][3] - As of the end of Q3 2025, the total number of wealth management products in the market reached 43,900, a year-on-year increase of 10.01%, with a total scale of 32.13 trillion yuan, up 9.42% year-on-year [2] Group 2 - Recent reports from listed banks indicate a growth in demand for demand deposits, with a notable increase in the proportion of these deposits, suggesting a positive trend in the banking sector [3] - The decline in deposit rates is expected to accelerate the re-pricing of high-interest deposits, which may alleviate the pressure on banks' net interest margins and create room for future monetary easing [4] - The overall trend indicates that as the capital market stabilizes, there is a growing need for asset reallocation among residents, further influencing the banking liability structure [3][4]