Beijing Feb 3, 2024: China’s bank wealth management market expanded and saw more investors in 2023, industry data showed.
‘’By the end of 2023, the number of investors holding wealth management products in the banking market rose 17.84 per cent year on year to 114 million, according to the China Banking Wealth Management Registration and Depository Centre.
The centre said that 1,100 wealth management products were launched in China’s banking system last year, raising a total of 57.08 trillion Yuan (about 8.04 trillion U.S. dollars).
“In addition, by the end of 2023, there were 39,800 products from 258 banking institutions and 31 wealth management companies, up 14.86 per cent compared to the beginning of last year, ‘’the centre said.
