Bank Wealth Management Sector Accelerates Transformation: Proprietary Scale Shrinks, Distribution Channels

As of end-June 2026, only 153 banking institutions nationwide still had outstanding proprietary wealth management products, a decrease of 6 from end-2025. The outstanding scale of proprietary wealth management stood at RMB 2.48 trillion, declining for two consecutive quarters, continuing the contraction trend. The data come from the China Banking Wealth Management Registration and Custody Center's 'China Banking Wealth Management Market Semi-Annual Report (First Half of 2026)'.

Many small and medium banks saw significant declines in proprietary wealth management scale. Zhongyuan Bank's outstanding scale at end-June was RMB 57.907 billion, down RMB 2.26 billion from RMB 60.167 billion at end-2025, a half-year decline of nearly 4%. Wenzhou Bank's outstanding scale was approximately RMB 53.4 billion, slightly down from RMB 53.514 billion at the beginning of the year. Xiamen Bank's outstanding net-value wealth management products scale was RMB 6.245 billion, contracting from RMB 6.75 billion at end-2025. Shanghai Rural Commercial Bank's outstanding scale fell from RMB 156.524 billion at end-2025 to RMB 153.726 billion.

Some small and medium banks have already zeroed out their proprietary wealth management stock. Fujian Haixia Bank still had 82 outstanding net-value products at end-2025, with a net asset value of approximately RMB 4.513 billion; as of end-June 2026, both the number of outstanding net-value products and the net asset value of wealth management fell to zero, completely exiting the proprietary wealth management issuance market. Against the backdrop of industry-wide contraction, a few banks bucked the trend: Chongqing Bank's outstanding scale increased from RMB 48.290 billion at the beginning of the year to RMB 49.664 billion at end-June, up 2.85%; Qingdao Rural Commercial Bank rose from RMB 31.453 billion to RMB 33.774 billion, up 7.38%; Suzhou Rural Commercial Bank increased from RMB 14.593 billion to RMB 15.499 billion, up 6.21%.

The outstanding scale of wealth management subsidiaries expanded steadily. As of end-Q1 2026, the entire market had 48,000 outstanding wealth management products, up 18.23% year-on-year; the outstanding scale was RMB 31.91 trillion, up 9.51% year-on-year. Wealth management subsidiaries' products accounted for 92.13% of the total market. Puyin Wealth Management's outstanding scale at end-June 2026 was RMB 1.54 trillion, steadily rising from RMB 1.47 trillion at end-2025; Suyin Wealth Management's outstanding scale for the same period was RMB 896.03 billion, an increase of RMB 69.871 billion from end-2025, up 8.46%.

Distribution channels continued to expand. In addition to banks' own parent-bank distribution channels, as of June 2026, a total of 656 institutions across the market were cross-selling wealth management products issued by wealth management subsidiaries, an increase of 63 from December 2025. The number of cross-bank cooperation institutions continued to climb. More and more small and medium banks are abandoning self-issuance of wealth management products and instead accessing wealth management subsidiary products, deepening the 'self-issuance contraction, distribution expansion' pattern.