Core Viewpoint - The increasing number of bank wealth management subsidiaries applying for membership in the China Insurance Asset Management Association reflects a trend towards unified regulation in the asset management industry [1][2]. Group 1: Membership and Association - Multiple bank wealth management subsidiaries are seeking to join the China Insurance Asset Management Association, which may soon be renamed to encompass the entire banking insurance asset management industry [1]. - As of January 10 this year, the association has 794 member units, including insurance companies, asset management companies, and fund management companies [1]. - Currently, 5 out of 32 bank wealth management subsidiaries are already members of the association, including Agricultural Bank of China Wealth Management, Bank of China Wealth Management, Everbright Wealth Management, Huaxia Wealth Management, and Ping An Wealth Management [1]. Group 2: Regulatory Intent and Information Disclosure - The inclusion of wealth management companies in the association is seen as a move to facilitate unified regulation of the asset management industry, improving communication and reducing information asymmetry among different asset management sectors [2]. - The National Financial Regulatory Administration has drafted a consultation document for a new information disclosure management method for asset management products, aiming to standardize disclosure practices across trust products, wealth management products, and insurance asset management products [2][3]. - The association is expected to play a significant role in establishing industry standards and norms, leading to a convergence of rules and standards between bank wealth management and insurance asset management businesses [3]. Group 3: Market Overview - As of the first quarter of this year, there are 32 operational bank wealth management companies, including 6 from state-owned banks, 12 from joint-stock banks, 8 from city commercial banks, 1 from rural commercial banks, and 5 from joint venture wealth management companies [3]. - The total number of existing bank wealth management products is 40,600, with a total scale of 29.14 trillion yuan, of which wealth management companies account for 25,740 billion yuan [3].