【银行理财】银行理财大事记：理财市场降费潮又起，中小银行代销路谋新——2026年1月银行理财市场月报

Key Points - The article discusses the recent developments in the banking wealth management sector, highlighting a new wave of fee reductions and regulatory changes aimed at lowering investor costs and promoting long-term investment [3][4]. - The total scale of wealth management products in January 2026 was reported at 31.57 trillion yuan, showing a slight month-on-month decrease of 0.10% but a year-on-year increase of 5.75% [10]. - The average yield of wealth management products has dropped below 2% for the first time, indicating a challenging environment for returns [4][11]. Regulatory and Industry Dynamics - The new public fund sales regulations were officially implemented, allowing for a relaxation of redemption fees and an extended transition period, which is expected to benefit the market by reducing potential redemption pressures [3][4]. - A "fee reduction wave" has emerged in the banking wealth management industry, with many institutions lowering management and service fees to enhance product attractiveness [3][4]. - The wealth management market is projected to grow to 33.29 trillion yuan by 2025, with a structural shift towards fixed-income products and an increase in allocations to public funds and bank deposits [4][11]. Market Trends - The market for cash management products has been contracting, while fixed-income products, particularly those with minimum holding periods and daily opening types, have been expanding steadily [10][11]. - The average annualized yield for cash management products was recorded at 1.28%, reflecting a decrease of 7.45 basis points, while pure fixed-income products saw an increase in yield to 2.67% [4][10]. - The issuance of new wealth management products in January showed a seasonal increase, with a continued dominance of fixed-income and closed-end products [4][11]. Innovation and Product Development - Several institutions, including Bank of Communications Wealth Management and Ping An Wealth Management, have successfully launched new systems for direct registration of wealth management products, enhancing compliance and operational efficiency [7][8]. - New product strategies, such as the "micro-wave fixed income+" approach, have been introduced to balance liquidity and stability, reflecting the industry's response to evolving market demands [7][9]. - Wealth management companies are increasingly participating in IPOs, particularly in the technology sector, to capture growth opportunities and align with policy directions [7][9].