2025年银行理财成绩单：规模突破33万亿元，平均收益率跌破2%

Core Insights - The Chinese banking wealth management market reached a record scale of 33.29 trillion yuan by the end of 2025, marking a year-on-year increase of 3.34 trillion yuan, or 11.15% [1] - The average yield of wealth management products dropped to 1.98% in 2025, down from 2.65% in 2024, reflecting a continuous decline over three years [2] Group 1: Market Size and Growth - The wealth management market's total size reached 33.29 trillion yuan by the end of 2025, with a year-on-year growth of 3.34 trillion yuan, representing an 11.15% increase [1] - The total yield generated for investors from wealth management products in 2025 was 730.3 billion yuan [1] Group 2: Yield Trends - The average yield of wealth management products was 1.98% in 2025, a decrease of 0.67 percentage points from 2.65% in 2024 and 0.96 percentage points from 2.94% in 2023 [2] - The decline in yields is attributed to the continuous downward trend in bond market yields, with 51.93% of wealth management funds allocated to fixed-income assets by the end of 2025 [2] Group 3: Asset Allocation and Product Types - By the end of 2025, the proportion of bond investments in wealth management products decreased from 57.89% in 2024 to 51.93%, while the allocation to public funds increased from 2.9% to 5.1% [2] - The share of fixed-income products slightly decreased by 0.24 percentage points, while the share of mixed products increased by 0.17 percentage points to 2.61% [2] Group 4: Risk Levels and Product Structure - As of the end of 2025, wealth management products with a risk level of two (medium-low) and below accounted for 95.73% of the total market, with only 0.24% classified as risk level four (medium-high) and above [2] - The proportion of closed-end products with a term of over one year increased to 70.87%, providing a more stable long-term funding source [3] Group 5: Market Optimization and Support for the Real Economy - The wealth management market structure improved, with a significant increase in the market share of wealth management companies reaching 92.25% [3] - Wealth management products supported the real economy with approximately 21 trillion yuan invested in bonds, non-standard debt, and equity assets, and over 3.8 billion yuan directed towards green bonds [3] - ESG-themed wealth management products saw a rapid growth, with a balance of 311 billion yuan by the end of 2025, reflecting a year-on-year increase of 29.96% [3]