Five Chinese Banks See Wealth Management Products Balance Exceed 2 Trillion Yuan

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The wealth management operations of Chinese banks have continued to see strong growth during the transitional period for new asset management rules launched in 2018.

At least five banks had outstanding wealth management product (WMP) balances that were in excess of 2 trillion yuan as of the end of 2020, including Industrial and Commercial Bank of China (ICBC), China Merchants Bank, China Construction Bank (CCB), Agricultural Bank of China (ABC), and Postal Savings Bank of China (PSBC).

Chinese banks are also pushing hard to complete the transition from expected yield WMP’s to net value WMP’s as mandated by regulators under new asset management rules released in 2018.

Wealth management operations of selected Chinese banks and their WMP subsidiaries as of end of 2020

BankGroup-level WMP balanceGrowthShare of net value productsWMP product balance of wealth management subsidiary
ICBC2.7084 trillion yuan 2.50%
China Merchants Bank2.45 trillion yuan 11.87%67.76%2.45 trillion yuan
CCB2.2248 trillion yuan 3.90%45.00%697.0 billion yuan
ABC2.0277 trillion yuan 949.8 billion yuan
PSBCOver two trillion yuan8.22%55.31%
Industrial Bank Co., Ltd. 1.4757 trillion yuan 10.35%76.76%685.9 billion yuan
Shanghai Pudong Development Bank1.25 trillion yuan
China CITIC Bank1.1186 trillion yuan 13.66%70.00%39.9 billion yuan
Bank of Communications 1.0938 trillion yuan 22.90%52.36%533.8 billion yuan.
China Minsheng Bank861.1 billion yuan61.38%
China Everbright Bank836.2 billion yuan 7.37%60.21%504.1 billino yuan
Ping An Bank648.2 billion yuan 9.80%71.50%

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