小微经营者理财需求快速增长，正迎来理财产品适配的关键窗口期。 1月8日，网商银行发布《2025年度普惠理财报告》。数据显示，2025年网商银行理财产品累计为用户创 造118亿元收益回报。以余利宝、稳利宝、增利宝、周利宝、月利宝为代表的系列产品，正成为越来越 多小微经营者在低利率环境下，管理流动资金、追求资产稳健增值的"主阵地"。 小微经营者理财需求激增，稳健银行理财成新选择 数据显示，中国有5200万中小微企业和1.24亿个体工商户，超1.7亿户小微经营者的每年流动资金或接近 50万亿，亟需精准适配的理财产品帮助其提升资金使用效率，增强经营韧性。 与普通投资者不同，小微经营者的流动资金不止是"闲钱"，更是生意的"本钱"，其理财的核心诉求是保 障本金安全性的前提下，进一步追求收益的稳定性。 但在利率不断下行的当下，存款已难以满足众多小微经营者"稳稳增值"的期待。波动较小、收益更稳 健、期限更丰富的银行理财产品，成为小微稳健理财的新选择。麦肯锡预测，到2030年，中国银行理财 市场规模将增长至50万亿。 网商银行推出银行理财专卖平台稳利宝，因其产品均为100%中低风险的银行理财，收益更稳健，2025 年平均年化收 ...

Core Viewpoint - The article discusses the current state, issues, and future of the 30 trillion yuan wealth management market, emphasizing the impending changes in competition and business models within the industry [7][11]. Group 1: Wealth Management Market Overview - The wealth management market is facing significant challenges as the previous model of "retained earnings" is nearing its end, which has historically allowed banks to manage returns during varying market conditions [8][9]. - The "wealth management ranking" business model, which attracted customers with high short-term returns, is becoming less effective as investors become more discerning [10][11]. Group 2: Future Directions for Wealth Management Companies - Future competition in the wealth management sector will focus on three key areas: investment research capabilities, product line structuring, and channel service capabilities [16]. - Companies like Ant Bank are leading the way with a focus on transparency and quality, offering clear performance metrics to users, which is becoming increasingly important in a market where traditional models are failing [17][25]. Group 3: Importance of Research in Wealth Management - Understanding the wealth management market is crucial as it serves as a benchmark for the risk-free rate in China, influencing asset pricing across various sectors, including the stock market [15]. - The decline in risk-free rates due to lower returns on pure debt wealth management products is expected to increase valuations in the stock market, potentially leading to more capital inflows [15]. Group 4: Key Insights from Recent Articles - A recent report highlighted that only one out of eight banks displays annualized returns on their wealth management products, indicating a lack of transparency in the industry [4][23]. - The article emphasizes the need for a user-centered approach in wealth management, moving away from asset under management (AUM) focused sales systems to enhance customer trust and satisfaction [22][25].

记者丨李览青 编辑丨周炎炎 "卖完辣椒，钱先存在网商银行理财，开春买苗正好取出来，一年能多赚2.4%。"山东辣椒种植 户孙先生的一句话，道出了低利率环境下小微经营者的共同选择。 在数字金融深度发展的今天，精细化的资产配置服务不再是高净值用户的"专属"。针对小微经 营者多元化的资金配置需求，以及在不同经营周期的资金管理需求，网商银行推出余利宝、稳 利宝、增利宝、周利宝、月利宝为代表的系列产品，让个体户、农户、小微企业主等小微经营 者也能在低利率环境下实现资金的科学管理与稳健增值。 1月8日，网商银行发布《2025年度普惠理财报告》（以下简称"《报告》"）显示，"求稳"成为 小微经营者资金管理的首要诉求。数据显示，该行理财服务累2025年累计为用户创造收益118 亿元，其理财产品正成为越来越多小微经营者在低利率环境下的理财主阵地。 小微经营者理财需求激增 公开数据显示，中国有5200万中小微企业和1.24亿个体工商户，超1.7亿户小微经营者的每年 流动资金或接近50万亿。亟需精准适配的理财产品帮助其提升资金使用效率，增强经营韧性。 但一直以来，小微经营者的资金需求具有"短、频、散"的特点，且与经营周期高度绑定，传 ...

"卖完辣椒，钱先存在网商银行理财，开春买苗正好取出来，一年能多赚2.4%。"山东辣椒种植户孙先生的一句话，道出了低利 率环境下小微经营者的共同选择。 在数字金融深度发展的今天，精细化的资产配置服务不再是高净值用户的"专属"。针对小微经营者多元化的资金配置需求，以 及在不同经营周期的资金管理需求，网商银行推出余利宝、稳利宝、增利宝、周利宝、月利宝为代表的系列产品，让个体户、 农户、小微企业主等小微经营者也能在低利率环境下实现资金的科学管理与稳健增值。 1月8日，网商银行发布《2025年度普惠理财报告》(以下简称"《报告》")显示，"求稳"成为小微经营者资金管理的首要诉求。数 据显示，该行理财服务累2025年累计为用户创造收益118亿元，其理财产品正成为越来越多小微经营者在低利率环境下的理财主 阵地。小微经营者理财需求激增 公开数据显示，中国有5200万中小微企业和1.24亿个体工商户，超1.7亿户小微经营者的每年流动资金或接近50万亿。亟需精准 适配的理财产品帮助其提升资金使用效率，增强经营韧性。 但一直以来，小微经营者的资金需求具有"短、频、散"的特点，且与经营周期高度绑定，传统理财产品的高门槛、长锁定期往 ...

小微经营者理财需求快速增长，正迎来理财产品适配的关键窗口期。 1月8日，网商银行发布《2025年度普惠理财报告》。数据显示，2025年网商银行理财产品累计为用户创造118亿元收益回报。以余利宝、稳利宝、增利 宝、周利宝、月利宝为代表的系列产品，正成为越来越多小微经营者在低利率环境下，管理流动资金、追求资产稳健增值的"主阵地"。 小微经营者理财需求激增 稳健银行理财成新选择 数据显示，中国有5200万中小微企业和1.24亿个体工商户，超1.7亿户小微经营者的每年流动资金或接近50万亿，亟需精准适配的理财产品帮助其提升资金 使用效率，增强经营韧性。 与普通投资者不同，小微经营者的流动资金不止是"闲钱"，更是生意的"本钱"，其理财的核心诉求是保障本金安全性的前提下，进一步追求收益的稳定 性。 但在利率不断下行的当下，存款已难以满足众多小微经营者"稳稳增值"的期待。波动较小、收益更稳健、期限更丰富的银行理财产品，成为小微稳健理财 的新选择。麦肯锡预测，到2030年，中国银行理财市场规模将增长至50万亿。 网商银行推出银行理财专卖平台稳利宝，因其产品均为100%中低风险的银行理财，收益更稳健，2025年平均年化收益率为 ...

作者丨 杨梦雪 编辑丨方海平 《21世纪经济报道》曾多次报道银行理财行业中部分理财公司存在的"打榜"现象，即，通过估 值魔法以及其他方式包装出收益数据很高的新产品用于吸引客户和资金，待"使命"完成便沦为 庸常的老产品，前期被高收益数据吸引而来的投资者实际享受不到产品所展示的诱人业绩。 该现象背后，主要成因固然是银行理财产品管理层面的把戏，但是，一些渠道在客户持仓产品 业绩展示上是一本糊涂账，导致投资者很难了解到真实情况，这某种程度上也是推手之一。 银行理财是最具普惠性的财富管理工具，其绝大部分的客户都是个人投资者，产品展示功能和 客户服务尤其重要。据银行业理财登记托管中心数据，理财市场以个人投资者为主，截至2025 年6月末，个人投资者数量达1.34亿个，占比98.66%。 近期，21世纪资管研究院实测了8家主要银行APP，了解其在客户持仓业绩展示上的具体情 况。包括工商银行、建设银行、招商银行、兴业银行、民生银行、微众银行、网商银行、上海 银行。 实测发现，目前手机银行App的 产品页面 展示的一般为不同时间维度下的 年化收益率 ，如成 立以来、近一年、近一月、近三月等。"哪个高展示哪个"，也一度是行业最为 ...

Core Viewpoint - The selection of bank wealth management products is crucial for investors, emphasizing the importance of aligning financial goals with appropriate products rather than merely chasing high returns [1] Group 1: Product Categories - Yulibao is designed for highly liquid funds, providing a balance of safety and liquidity, allowing users to earn higher returns than traditional savings while ensuring quick access to cash [2][3] - Wenlibao offers a stable growth option for short-term idle funds, focusing on low to medium risk bank wealth management products that typically invest in fixed-income assets, providing better returns than money market funds [4] - Zenglibao targets medium to long-term funds, utilizing a "fixed income plus" strategy to enhance returns while maintaining a relatively stable income base, suitable for investors willing to accept moderate risk [5] Group 2: Investment Strategy - The investment strategy involves matching the time horizon of funds, risk tolerance of investors, and the risk-return characteristics of products, creating a clear path for wealth management choices [6]

Core Insights - The decline of one-year fixed deposit rates below 1% is challenging the traditional sense of financial security among Chinese citizens, prompting a shift towards alternative investment options like bank wealth management products [1][5] - A new group of cautious investors, referred to as "wealth hunters," is emerging, focusing on balancing risk and returns while seeking more suitable alternatives to traditional savings [4][11] - The trend of wealth migration is evident, with significant increases in household deposits and the number of new investors in the bank wealth management market [4][15] Group 1: Investment Trends - The average annualized yield of bank wealth management products is 2.12%, while platforms like WeBank's "Stable Treasure" offer yields as high as 2.58%, highlighting the ongoing appeal of these products [5][12] - In the first three quarters, household deposits increased by 12.73 trillion yuan, and the bank wealth management market welcomed 14 million new investors, with total assets reaching a historical high of 33.18 trillion yuan by the end of October [4][15] - The shift from traditional savings to active wealth management is becoming more pronounced, with younger generations and their parents adapting to new financial strategies [6][17] Group 2: Behavioral Changes - The traditional mindset of "saving in the bank" is being challenged as younger individuals actively seek out better investment opportunities, often educating their parents in the process [6][14] - The rise of social media and digital tools has lowered the barriers to learning about financial products, enabling a more informed investor base [11][12] - The concept of "wealth management" is evolving, with individuals now considering their investments as part of their daily lives, often calculating potential returns against everyday expenses [14][15] Group 3: Market Dynamics - The ongoing decline in interest rates is reshaping the investment landscape, with many investors recognizing that solely relying on bank deposits may not be the best strategy [8][17] - The popularity of one-stop service platforms like WeBank's "Stable Treasure" is increasing, with over 4.5 million users and a high rate of repeat purchases among investors [17][21] - The market is expected to see a 10% year-on-year growth in bank wealth management scale by the end of 2025, indicating a sustained shift towards more diversified investment strategies [21]

Core Viewpoint - In the current economic environment, effective fund management has become crucial for businesses, especially for small and micro enterprises, which need to allocate idle funds wisely to achieve value preservation and growth while ensuring liquidity and safety [1][4] Group 1: Company Overview - Wangshang Bank, approved by the China Banking and Insurance Regulatory Commission and initiated by Ant Group, is one of the first private banks in China, serving over 50 million small and micro business operators [3] - The bank has launched several popular wealth management products, including Yulibao, Wenlibao, Zenglibao, and Zhoulibao, gaining wide market recognition due to its compliance, professionalism, and user-friendly services [3][4] Group 2: Product Offerings - Wangshang Bank offers a diverse range of wealth management products tailored to different funding needs of enterprises, including Wenlibao, Yulibao, Zenglibao, and Zhoulibao, each with distinct risk levels, yield potentials, and liquidity features [4][6] - Wenlibao targets low to medium risk with an annual yield of 2%-3.5%, suitable for short-term idle funds, with a minimum holding period of 7 days [5] - Yulibao is designed for daily liquidity management, offering an annual yield of nearly 1.5% and features like instant redemption, making it ideal for businesses with frequent cash flow [5] - Zenglibao employs a "fixed income plus" strategy, potentially yielding over 3.5% annually, suitable for enterprises willing to accept some volatility for higher returns [6] - Zhoulibao offers a unique weekly redemption feature with an annual yield of 2.3%-3%, catering to businesses with periodic funding needs [6] Group 3: Investment Strategy - Companies should consider their funding purposes, risk tolerance, and liquidity needs when selecting wealth management products, avoiding the temptation of high yields without assessing potential risks [7][8] - For daily operational funds, Yulibao is recommended due to its high liquidity and low-risk profile, while Wenlibao and Zhoulibao are suitable for medium to long-term idle funds [7] - The compliance and reputation of the platform are critical, as Wangshang Bank's products are sourced from reputable financial institutions, significantly reducing investment risks [8] - A long-term investment perspective is encouraged to maximize returns, with products designed to help businesses avoid irrational decisions due to short-term market fluctuations [8]

Core Viewpoint - The trend of long-term, high-interest fixed deposits is fading, as evidenced by a village bank's decision to remove its five-year fixed deposit product, indicating a shift in asset allocation due to declining interest rates [2][3]. Group 1: Changes in Deposit Products - A village bank announced the cancellation of its five-year fixed deposit product effective November 5, 2025, signaling a shift in strategy among commercial banks, particularly smaller ones, to lower long-term liabilities in response to ongoing pressure on net interest margins [2]. - The average one-year fixed deposit rate among major domestic banks has dropped to 0.95%, reflecting a broader trend of declining deposit rates [2]. - Experts suggest that traditional views on saving in banks need to change, as high-interest earnings from fixed deposits are no longer viable, prompting investors to consider alternative low-risk, liquid products like bank wealth management and government bonds [2][4]. Group 2: Growth of Wealth Management Products - The number of individuals holding bank wealth management products increased by 12.70% year-on-year in the first three quarters of this year, with third-party platforms experiencing even more significant growth [3]. - For instance, the user base of the "Stable Profit Treasure" product from MyBank saw a remarkable 67% year-on-year increase, significantly outpacing the industry average [3]. - The average annualized yield for bank wealth management products is approximately 2.12%, while some cash management products like "Stable Profit Treasure" have achieved yields around 2.58%, making them more attractive than traditional fixed deposits [4]. Group 3: Banking Industry Transformation - The withdrawal of long-term fixed deposits and the rise of wealth management products reflect a broader transformation in banking business models, with a focus shifting towards wealth management services [4]. - Future competition among banks will center on their ability to provide diversified asset allocation solutions rather than just the number of branches or deposit volumes [4]. - Market observers predict that more small and medium-sized banks may follow suit in adjusting their long-term deposit strategies, emphasizing the need for investors to enhance their financial literacy and diversify their investment portfolios in a low-interest-rate environment [4].