金融智慧之选：银行理财产品深度剖析与财富增值策略 头豹词条报告系列

Investment Rating - The report does not provide a specific investment rating for the banking wealth management products industry Core Insights - The banking wealth management products industry has seen significant growth, with a total outstanding scale exceeding 29 trillion RMB as of mid-2024, driven by stricter regulatory policies and increasing market competition [4][19][24] - The industry is expected to continue evolving towards maturity and diversification, contributing to the enhancement of quality productivity in the economy [4][19] Industry Definition - Banking wealth management products are investment and management plans designed by commercial banks based on the risk and return analysis of target customer groups [5] - As of the end of 2023, the market size of banking wealth management products reached 26.8 trillion RMB, with 3.11 million new products issued throughout the year [5][6] Industry Classification - The banking wealth management products can be classified based on currency, return methods, and investment fields, including RMB and foreign currency products, guaranteed and non-guaranteed return products, and various risk levels [6][10] Industry Characteristics - The industry is characterized by strict regulatory policies, intensified competition, and a strong dependence on market demand, leading to a long-term development trend [15][16][18] Development History - The development of banking wealth management products can be divided into four stages: initiation (2004-2006), rapid growth (2007-2016), transformation under financial regulation (2017-2022), and high-quality development under new economic policies (2023-present) [19][20][24] Competitive Landscape - The industry exhibits high concentration, with the top 10 banks accounting for 58.1% of the total outstanding scale, and the top 30 companies holding over 83% of the market [59] - The emergence of wealth management subsidiaries of joint-stock banks has accelerated the market share of leading companies, increasing competitive pressure on smaller banks [59]