33.29万亿元！历史新高

Core Insights - The scale of bank wealth management reached a historical high of 33.29 trillion yuan by the end of 2025, marking an increase of 11.15% from the beginning of the year [5] - In 2025, wealth management products generated a total return of 730.3 billion yuan for investors, reflecting a growth of 2.87% compared to the previous year [3][14] Group 1: Market Overview - By the end of 2025, there were 136 banks and 32 wealth management companies that launched a total of 33,400 new wealth management products, raising 76.33 trillion yuan [5] - The total number of existing wealth management products reached 46,300, an increase of 14.89% from the start of the year [5] Group 2: Product Types - Fixed income products accounted for 97.09% of the total wealth management product scale, with a total size of 32.32 trillion yuan, which decreased by 0.24 percentage points from the beginning of the year [8][9] - Mixed products saw an increase in their share, reaching 2.61% with a total size of 0.87 trillion yuan, up by 0.17 percentage points [8][9] Group 3: Asset Allocation - As of the end of 2025, the asset allocation of wealth management products remained predominantly in fixed income, with investments in bonds, non-standardized debt assets, and equity assets amounting to 18.52 trillion yuan, 1.82 trillion yuan, and 0.66 trillion yuan respectively [12] - The proportion of assets allocated to public funds increased to 5.1%, up by 2.2 percentage points from the previous year [12] Group 4: Investor Growth - The number of investors holding wealth management products reached 143 million by the end of 2025, a growth of 14.37% from the beginning of the year [15] - Among these, the number of individual investors increased by 17.69 million, while institutional investors grew by 310,000 [15] Group 5: Distribution Channels - In 2025, wealth management companies expanded their distribution channels beyond their parent banks, with 31 out of 32 companies offering products through other banks [18] - A total of 593 institutions engaged in cross-bank distribution of wealth management products by December 2025, an increase of 31 from the start of the year [18]