Core Insights - The report titled "China Asset Custody Industry Development Report (2025)" was recently released by the China Banking Association, marking the 14th consecutive year of publication [1][2] - The report outlines regulatory policies aimed at guiding and standardizing asset custody business, with a focus on promoting long-term capital market participation [1] Regulatory Environment - In 2024, regulatory bodies introduced several policies to enhance compliance and stability in the asset custody sector, including guidelines for public funds, insurance, pensions, cross-border products, private equity, bank wealth management, and trusts [1] - Key policies include "Guiding Opinions on Promoting Long-term Capital into the Market" and "Opinions on Strengthening Supervision to Prevent Risks and Promote High-Quality Development of Capital Markets" [1] Market Growth - As of the end of 2024, the total custody scale of asset management products in China's banking sector reached 182.20 trillion yuan, reflecting a year-on-year growth of 12.64% [1] - The combined service scale of client fund custody products reached 239.90 trillion yuan, while the scale of asset management product operational outsourcing reached 8.88 trillion yuan [1]