China Merchants Bank President Vows to Bolster Wealth Management Amid Low Rates and Retail Risks
China Merchants Bank President Wang Xiaoqing said the bank, which manages RMB 13 trillion in financial assets, will strengthen its wealth management capabilities and address challenges from low interest rates and retail-sector risks. Speaking at the bank's 2026 interim results meeting, he outlined plans to enhance asset management and allocation, expand technology finance, and leverage its Hong Kong operations.
At the bank's 2026 interim results meeting on August 31, Wang Xiaoqing, president of China Merchants Bank, outlined the next phase of plans to consolidate and build on the bank's strengths. In the area of large-scale wealth management, the bank will focus on enhancing clients' sense of gain and experience, further strengthening its core capabilities in asset management and asset allocation, while providing ongoing client support.
In technology finance, Wang said China Merchants Bank already has a solid foundation and will seize opportunities in this field going forward. On internationalization, the bank will make better use of its Hong Kong operations, which still have considerable room for development. Additionally, the intelligent era presents significant opportunities for commercial banks, and applying intelligent technologies more scientifically and effectively is of great importance to banking operations.
Wang officially assumed the role of president of China Merchants Bank at the end of April. Reflecting on his new position, he said his first feeling upon taking office was the heavy responsibility. As a state-owned financial institution managing RMB 13 trillion in financial assets, the bank bears important duties and missions. Its development is tied to the shared expectations of its 120,000 employees, and it must continue to build on the operational achievements accumulated by generations of staff while driving high-quality development. The capital markets and investors have previously recognized the bank, and it must live up to that recognition.
Regarding current challenges, Wang noted that some stem from the environment common to the banking industry: low interest rates are putting pressure on net interest margins, while slowing economic growth, changes in the overall financing structure, and weakening loan demand. Other challenges arise from the structural characteristics specific to China Merchants Bank. As a bank with retail business as its mainstay and defining feature, large-scale wealth management is a key advantage. However, retail business and retail assets are under pressure at this stage, as household balance sheets undergo a period of restructuring and deleveraging, affecting some clients' willingness and ability to repay. In the context of market normalization, co-debt risks have emerged periodically, having a relatively greater impact on China Merchants Bank.