截至2025年末，存续规模较年初增长11.15%—— 银行理财市场热度不减

Core Insights - The bank wealth management market remains robust as deposit rates decline, leading low-risk preference funds to migrate towards bank wealth management products [1] Group 1: Market Overview - As of the end of 2025, the total scale of the bank wealth management market reached 33.29 trillion yuan, an increase of 11.15% from the beginning of the year [1] - A total of 3.34 million new wealth management products were issued throughout the year, raising 76.33 trillion yuan [1] - Fixed income products accounted for 32.32 trillion yuan, representing 97.09% of the total wealth management product scale [1] Group 2: Factors Driving Growth - The growth in bank wealth management scale is attributed to three main factors: declining interest rates on demand and time deposits, increased volatility in capital markets, and enhanced competitiveness of bank wealth management products [1][2] - The shift in investor preference towards fixed income products is driven by a decrease in deposit attractiveness and heightened risk aversion due to stock market fluctuations [1] Group 3: Product Diversification - The wealth management product offerings have become increasingly diverse, including cash management, fixed income, mixed, and equity products, with various structures such as daily open, minimum holding period, and closed-end products [3] - There is a growing acceptance among investors for net value fluctuations, although the preference for stable returns remains dominant [3] Group 4: Future Trends - The growth trend of bank wealth management is expected to continue, but the pace will be constrained by economic cycles and market volatility [4] - In the long term, bank wealth management is anticipated to play a role as a "stable return base" and "inclusive allocation entry" in the broader asset management landscape [4]