Core Insights - The report highlights significant growth in the assets under management (AUM) of foreign-controlled joint venture wealth management companies in China for the first half of 2025, indicating a robust performance in the sector [1][3]. Group 1: Company Performance - BlackRock's CCB Wealth Management reported an AUM of 36.252 billion yuan as of June 30, 2025, reflecting a 33.23% increase from the end of 2024, with over 90% of its products being fixed income [3]. - Goldman Sachs ICBC Wealth Management's AUM rose to 44.322 billion yuan, a 56.99% increase from 28.233 billion yuan at the end of 2024, with 82 fixed income products, 69 of which were raised in USD [3]. - Societe Generale Agricultural Bank Wealth Management experienced the fastest growth, with AUM increasing from 29.560 billion yuan at the end of 2024 to 48.722 billion yuan, a growth rate of 64.82% [3]. Group 2: Market Overview - As of June 30, 2025, the overall AUM of China's bank wealth management market reached 30.67 trillion yuan, a 2.38% increase from the beginning of the year and a year-on-year increase of 7.53% [3]. - In the first half of 2025, a total of 16,300 new wealth management products were launched, raising 3.672 trillion yuan, generating returns of 389.6 billion yuan for investors, and supporting the real economy with a funding scale of 21 trillion yuan [3]. - Among the five foreign-controlled joint venture wealth management companies, only Schroders and Huifa Wealth Management have not disclosed their semi-annual reports, with Huifa's latest AUM reported at approximately 28 billion yuan, also showing significant growth [3].