刚公布：72.32万亿元！

Core Viewpoint - As of the end of the first quarter of 2025, the total scale of asset management business in China is approximately 72.32 trillion yuan, reflecting a decrease of nearly 530 billion yuan compared to the end of the previous year [4][5]. Summary by Sections Overall Asset Management Scale - The total scale of asset management business is approximately 72.32 trillion yuan, down 5299.16 billion yuan from 72.85 trillion yuan at the end of last year, representing a quarter-on-quarter decline of 0.73% [5][6]. - The number of asset management products reached 194,769, a decrease of 749 products compared to the end of last year [5]. Breakdown of Asset Management Types - Public funds have the largest scale at 32.22 trillion yuan, accounting for 44.55% of the total scale [5]. - Private funds follow with a scale of 20.19 trillion yuan, representing 27.92% [5]. - Other types, including pensions, securities company asset management plans, fund management company asset management plans, and asset-backed special plans (ABS), have scales of 6.09 trillion yuan, 5.93 trillion yuan, 4.60 trillion yuan, and 2.08 trillion yuan respectively, each accounting for less than 10% [5]. Quarterly Performance - In the first quarter, private funds, pensions, ABS, and private products from futures companies and asset management subsidiaries saw a quarter-on-quarter increase [9]. - Specifically, private funds increased by 2672.77 billion yuan, a growth rate of 1.34% [10]. - Pension funds increased by 1492.6 billion yuan, with a growth rate of 2.51%, highlighting their role as a significant channel for long-term capital allocation [10]. - ABS saw an increase of 115.63 billion yuan, a growth rate of 0.56% [10]. - Futures companies and asset management subsidiaries' private products increased by 81.61 billion yuan, a growth rate of 2.6% [10]. Declines in Other Areas - Public funds experienced the largest absolute decrease, with a reduction of 6084.4 billion yuan, a decline of 1.85% [10]. - Securities company asset management plans decreased by 1706.91 billion yuan, a decline of 2.8% [10]. - Fund subsidiary asset management plans saw a significant decrease of 1085.9 billion yuan, the largest percentage drop at 9.85% [10]. - Private asset management products from fund companies decreased by 633.47 billion yuan, a decline of 1.36% [10].