Core Insights - The asset management industry in China is experiencing stable growth, with a total scale reaching 179.33 trillion yuan by the end of Q3 2025, marking an 8.21% increase from the previous year [1] Group 1: Industry Overview - The asset management sector includes various financial institutions such as bank wealth management, public funds, insurance asset management, trusts, securities firms, and private equity funds, forming a comprehensive "big asset management" landscape [1] - The bank wealth management sector has reached a record high of 32.13 trillion yuan, indicating a healthy development trend [1] Group 2: Asset Allocation Strategies - In bank wealth management products, the allocation to cash and bank deposits has increased to 27.5%, up 3.6 percentage points from the previous year, while bond allocation has decreased to 40.4%, down 3.1 percentage points [2] - Public funds have benefited from a strong equity market, with equity and mixed public funds achieving annualized returns exceeding 135% in Q3 2025 [2] - The number of private securities investment funds has decreased to 79,845, while the management scale has increased to 5.97 trillion yuan, reflecting a shift towards bond-type products [2] Group 3: Trust and Insurance Asset Management - The trust industry is seeing growth with a notable trend of "non-standard to standard" products, as the number of standard trust products has increased by 3.91% [3] - In the insurance asset management sector, the funds under management have risen to 36.23 trillion yuan, an 8.95% increase from the previous year, with a significant rise in equity investments [3] Group 4: Future Development Trends - The dual-driven approach of wealth management and asset management is becoming a key transformation direction for asset management institutions in China [3] - The report suggests that with the implementation of high-quality development policies, the asset management industry is expected to achieve sustainable growth and structural optimization, enhancing its service to the real economy [4]