PBOC: RMB Deposits Hit 346.44 Trillion at End-June; CCB Personal AUM Exceeds 24 Trillion

In the first half of 2026, financial statistics released by the People's Bank of China showed that RMB deposits stood at 346.44 trillion yuan at end-June, up 8.2% year on year, with an increase of 17.76 trillion yuan in the first half. Household deposits rose by 7.58 trillion yuan, 3.19 trillion yuan less than a year earlier; non-financial corporate deposits increased by 3.2 trillion yuan, 1.43 trillion yuan more than a year earlier; fiscal deposits rose by 971.5 billion yuan, about 280 billion yuan less than a year earlier; and deposits of non-bank financial institutions increased by 4.65 trillion yuan, 2.1 trillion yuan more than a year earlier. The slower growth in household deposits and faster growth in non-bank financial institution deposits reflect a continued shift of deposits into other financial products.

According to its 2026 interim results, China Construction Bank (CCB) saw good overall retention of maturing personal time deposits in the first half, with a retention rate above 90%. Personal client assets under management (AUM) exceeded 24 trillion yuan, up 1.04 trillion yuan from end-2025, with diversified growth across deposits, funds, insurance and precious metals.

Tang Shuo, vice president of CCB, said that in "primary settlement," the bank is accelerating the promotion of a "circle-chain-group" service model around the capital flow chain of "B-end scenario expansion to C-end contract volume growth." Starting from corporate and campus scenarios, it is expanding batch client acquisition for payroll, social security cards and campus cards; focusing on payroll, social security card and provident fund client groups to increase deposit retention through tiered services; and enhancing mobile banking and quick payment product coverage and contract binding to boost transaction activity.

In "primary investment," CCB is driving diversified AUM growth. It is strengthening investment research and professional product selection, building a "general selection plus strict selection" shelf system, and partnering with selected distribution institutions to build a wealth management ecosystem; leveraging its retail client base to deepen full-client management and optimize online channel experience; and enhancing multi-asset allocation by offering differentiated asset allocation plans and product services to meet various client needs. As of end-June, wealth management clients increased by 5.57 million from end-2025, with investment and wealth management products accounting for over 30% of new personal AUM.

In "primary financing," CCB is enriching its "housing-consumption-business" credit product service system around personal client financing needs. It is providing high-quality, efficient services to meet clients' rigid and improvement housing demands and offering "home life" integrated services to housing clients; continuing to implement "fiscal interest subsidies" and increasing consumer loan issuance; and promoting complementarity among personal consumer loans, credit cards and CCB Consumer Finance products, with shared scenarios, merchants, channels and risk control. As of end-June, CCB's domestic personal consumer loan balance reached 781.8 billion yuan, up 98.6 billion yuan from end-2025, an increase of over 14%.