Core Insights - Three foreign-controlled joint venture wealth management companies, including BNP Paribas, Goldman Sachs, and BlackRock, reported significant growth in their wealth management product scales for the first half of 2025, with increases exceeding 60% [1] Company Performance - BNP Paribas's wealth management product scale reached 487.22 billion yuan as of June 30, 2025, marking a 64.82% increase from 295.60 billion yuan at the end of 2024 [3] - BlackRock's wealth management product scale was 362.52 billion yuan as of June 30, 2025, with a growth of 33.23% from 272.10 billion yuan at the end of 2024 [2] - Goldman Sachs's wealth management product scale stood at 443.22 billion yuan as of June 30, 2025, reflecting a 56.99% increase from 282.33 billion yuan at the end of 2024 [2] Industry Context - The overall scale of China's bank wealth management market was 30.67 trillion yuan as of June 30, 2025, with a year-to-date increase of 2.38% and a year-on-year increase of 7.53% [4] - A total of 16,300 new wealth management products were launched in the first half of 2025, raising 3.672 trillion yuan, generating returns of 389.6 billion yuan for investors [4] - The five foreign-controlled joint venture wealth management companies have shown significant growth compared to the industry average, with only two companies yet to disclose their reports for the first half of 2025 [4] Market Dynamics - There is a notable redemption pressure on cash management products, while "fixed income +" products have seen net inflows [5] - The recent surge in the equity market has put pressure on fixed income-dominated wealth management products, although redemption pressure is reported to be manageable for some institutions [5]

Core Insights - Three foreign-controlled joint venture wealth management companies reported significant growth in their wealth management product scales for the first half of 2025, with increases exceeding 60% [1][4] Group 1: Company Performance - As of June 30, 2025, the scale of wealth management products for 法巴农银理财 reached 487.22 billion yuan, marking a 64.82% increase from 295.60 billion yuan at the end of 2024 [3] - 高盛工银理财 reported a product scale of 443.22 billion yuan, up 56.99% from 282.33 billion yuan at the end of the previous year [3] - 贝莱德建信理财's product scale was 362.52 billion yuan, reflecting a 33.23% increase from 272.10 billion yuan at the end of 2024 [2] Group 2: Market Context - The overall scale of China's bank wealth management market was 30.67 trillion yuan as of June 30, 2025, with a year-to-date increase of 2.38% and a year-on-year increase of 7.53% [4] - A total of 16,300 new wealth management products were launched in the first half of 2025, raising 3.672 trillion yuan, generating returns of 389.6 billion yuan for investors [4] Group 3: Product Trends - There is a notable redemption pressure on cash management products, while "fixed income +" products have seen net inflows [5] - The recent popularity of equity markets has put pressure on fixed income-dominated wealth management products, although redemption pressure remains manageable for some institutions [5]

【导读】法巴农银理财上半年规模增幅超60%，高盛工银理财、贝莱德建信理财规模亦显著 增长 中国基金报记者 吴娟娟 日前，五家外商控股合资理财公司中三家披露了理财业务2025上半年理财业务报告。数据显 示，贝莱德建信理财、高盛工银理财、法巴农银理财2025年上半年理财产品规模均显著增 长，增幅最大超过60%。 权益市场火热，以固定收益类产品为主导的理财产品承压。不过，一家股份行理财经理告诉 记者，其所在网点理财产品赎回压力可控。本报此前报道亦提到，一方面，理财产品的赎回 压力可控。另一方面，银行顺势推出权益或者"含权"产品。这类产品过去很长一段时间销售 困难，如今受到投资者欢迎。本报调研发现，不同地区的理财投资者行为差异较大，同时， 不同地区理财产品面临的赎回压力也存在较大差异。 法巴农银理财上半年规模增幅为64.82% 中国理财网数据显示， 截至2025年6月30日，贝莱德建信理财存续产品规模为362.52亿元 ，公司旗下公募产品有117只，私募产品1只。按资产类别来分，截至2025年6月30日，公司 旗下固定收益类产品115只，权益类产品2只，混合类产品1只。截至2024年12月31日，贝 莱德建信理财的存 ...