The "Quarterly Report on China's Banking Wealth Management Market (Q3 2025)" recently released by the Banking Wealth Management Registration and Custody Center shows that China's banking wealth management market continues to grow steadily. As of the end of the third quarter of this year, there were a total of 43900 products in existence in the entire market, an increase of 10.01% year-on-year; The existing scale is 32.13 trillion yuan, an increase of 9.42% year-on-year. Among them, the proportion of existing wealth management products of wealth management companies in the entire market reached 91.13%. From the perspective of product type structure, fixed income products dominate the market. As of the end of the third quarter, the existing scale of fixed income products was 31.21 trillion yuan, accounting for 97.14% of the total existing scale of wealth management products, an increase of 0.05 percentage points compared to the same period last year; The existing scale of mixed products is 0.83 trillion yuan, accounting for 2.58%, an increase of 0.03 percentage points compared to the same period last year; The survival scale of equity products and commodity and financial derivative products is relatively small, at 0.07 trillion yuan and 0.02 trillion yuan respectively. Wu Dan, a researcher at the Bank of China Research Institute, believes that the steady growth of bank wealth management scale is mainly driven by two factors. On the one hand, against the backdrop of continuous decline in deposit interest rates, the attractiveness of traditional savings has decreased, and wealth management products have become an important alternative choice with their relative return advantages, promoting the transfer of funds from savings to the wealth management market; On the other hand, the wealth management subsidiary actively increased its product innovation and marketing efforts, accurately launched wealth management products that meet the needs of investors, and successfully undertook the outflow of funds from the banking system. The transformation of residents' financial management concepts is also one of the important reasons. According to He Hanwen, a researcher at Puyi Standard, many residents' financial concepts are shifting from "savings thinking" to "investment thinking". The relatively stable fluctuations in net worth and broad distribution channels have increased the attractiveness and accessibility of bank wealth management products to investors. Moreover, since the beginning of this year, the performance of the equity market has improved, promoting the orderly growth of equity assets such as "fixed income+" and mixed type wealth management. More investors are investing in equity assets by purchasing bank wealth management products. The report shows that the pool of wealth management investors continues to grow. As of the end of the third quarter, the number of investors holding wealth management products reached 139 million, a year-on-year increase of 12.70%. In terms of returns, in the first three quarters, wealth management products generated a total of 568.9 billion yuan in returns for investors. Bank wealth management not only brings investment returns to residents, but also injects financial vitality into the real economy. Lou Feipeng, a researcher at China Postal Savings Bank, said that the wealth management industry is actively responding to national policy calls, fully leveraging the function of optimizing fund allocation, and achieving the connection between funds and the financing needs of the real economy through various channels. As of the end of the third quarter, bank wealth management products supported approximately RMB 21 trillion in real economy funds through investment in assets such as bonds, non-standard debt, and unlisted equity. Looking ahead, He Hanwen believes that bank wealth management may present the following development trends: firstly, exploring multi asset and multi strategy asset allocation, and practicing diversified investment in a low interest rate and high volatility market environment; The second is to increase the depth and breadth of the application of financial technology and digital tools, improve investment and operation management efficiency, and achieve economies of scale through cost reduction and efficiency improvement; The third is to transform towards a "demand-oriented" approach, grasp the needs of different customer groups to create innovative products and form differentiated competitiveness. The bank wealth management market is expected to continue to grow and present a clearer competitive landscape. ”In Wu Dan's view, the industry landscape will accelerate differentiation, forming a competitive situation of "head dominance and regional supplementation". Lou Feipeng stated that with the increase in residents' awareness of investment and financial management, the large scale of investable assets, and the active innovation of products and expansion of sales channels by wealth management companies, bank wealth management is expected to maintain a large scale in the future, and the product types will be more diverse. (New Society)