H1 2026 Bank Wealth Management Assets Hit 33.66 Trillion RMB, Fixed-Income Products Dominate

In the first half of 2026, the average annualized yield on wealth management products was 2.05%, generating a cumulative 305.2 billion RMB in income for investors. As of the end of June, the outstanding scale of the bank wealth management market reached 33.66 trillion RMB, up 1.11% from the beginning of the year. Fixed-income products had an outstanding scale of 32.48 trillion RMB, accounting for 96.49% of all wealth management products. Mixed-asset products had an outstanding scale of 1.07 trillion RMB, representing 3.18%, an increase of 0.57 percentage points from the start of the year.

The number of investors holding wealth management products continued to grow, reaching 151 million as of the end of June, up 5.59% from the start of the year. Among them, the number of individual investors was 149 million, an increase of 7.59 million from the start of the year, accounting for 98.61%. Individual investors with a risk preference of Level 2 (conservative) were the most numerous, accounting for 32.63%. The average annualized yield since the inception of pension wealth management products was 3.60%, while that of personal pension wealth management products was 3.21%. As of the end of June, the wealth management industry platform supported six wealth management companies in issuing 39 personal pension wealth management products, with a cumulative 2.225 million accounts opened and product balances exceeding 26.36 billion RMB. It also supported 10 wealth management companies in issuing 51 pension wealth management products, with a product scale of 106.69 billion RMB and 466,000 investors.

In the first half of 2026, a total of 100 banking institutions and 32 wealth management companies nationwide issued 18,200 new wealth management products, raising a cumulative 39.21 trillion RMB. As of the end of June, 153 banking institutions and 32 wealth management companies nationwide had outstanding wealth management products, with a total of 51,200 products in existence, an increase of 10.58% from the start of the year and 22.49% year-on-year. The outstanding scale was 33.66 trillion RMB, up 1.11% from the start of the year and 9.75% year-on-year. Wealth management companies had 39,100 outstanding products with a scale of 31.18 trillion RMB, accounting for 92.63% of the total market.

Some small and medium-sized banks without wealth management subsidiaries continued to see their proprietary wealth management scales shrink. As of the end of June 2026, Zhongyuan Bank's outstanding wealth management product scale was 57.907 billion RMB, down 2.26 billion RMB from the start of the year. Fujian Haixia Bank had zero outstanding net-value wealth management products as of the end of June, with net asset value falling to zero. In the first half of 2026, 100 banking institutions nationwide issued new wealth management products, a decrease of 32 from the same period last year. As of the end of June, 153 banking institutions nationwide had outstanding wealth management products, a decrease of 41 year-on-year and down 6 from the start of the year. Meanwhile, the number of cooperative distribution institutions for wealth management companies increased from the start of the year. In addition to distribution through parent banks, 656 institutions nationwide distributed wealth management products issued by wealth management companies across banks in June 2026, an increase of 63 from December 2025.