Financial Trends - The recent reduction in deposit rates has led residents to reconsider their investment options, including wealth management, insurance, and securities markets [2] - The People's Bank of China reported that non-bank deposits increased by nearly 1.2 trillion yuan in May, marking a year-on-year increase of 30 billion yuan, the highest for the same period in nearly a decade [2] Wealth Management - Bank wealth management is becoming a new battleground, with estimates suggesting that the scale of bank wealth management will rise by 340 billion yuan to 31.77 trillion yuan by May 2025 [3] - The second quarter has seen a significant recovery in the yields of wealth management products, enhancing their attractiveness and contributing to an above-seasonal expansion of the wealth management market in May [3] Regulatory Changes - New regulatory policies are expected to be implemented for bank wealth management, focusing on the quality of wealth management companies rather than just their scale [4] - The proposed regulations will encourage wealth management subsidiaries to prioritize business quality, including research capabilities and consumer rights protection [4][5] Insurance Sector - The decline in deposit rates has shifted consumer interest towards dividend insurance and other savings-type insurance products, with a notable increase in the launch of new insurance products [6][7] - In 2023, 414 new life insurance products were launched, with dividend life insurance accounting for 37.68% of the total, a nearly 10 percentage point increase from the previous year [7] Consumer Finance - The decline in deposit rates is expected to create new opportunities in the consumer finance sector, as lower rates may encourage consumers to spend more on durable goods and services [8][9] - The upcoming implementation of new regulations for consumer lending is anticipated to increase compliance pressures on small lending institutions, potentially leading to industry consolidation [10][11]