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This article is reproduced with permission from

Time Weekly

（ID：timeweekly）

author:Zhang Xinying

As the deposit interest rates of domestic mainstream banks enter the "1" era, part of the deposit funds are "targeting" the wealth management market.

Recently, the "Half-Yearly Report on China's Banking Wealth Management Market" (hereinafter referred to as the "Report") released by China Wealth Management Network showed that as of the end of June 2024, the outstanding scale of wealth management products nationwide reached 28.52 trillion yuan, an increase of 6.43% from the beginning of the year and an increase of 12.55% year-on-year.

According to Puyi Standard data, as of the end of July, the scale of existing wealth management products reached 29.62 trillion yuan, a further expansion of 1.1 trillion yuan from the end of June when the scale was 28.52 trillion yuan, and is approaching the 30 trillion yuan mark.

It is worth noting that among the nearly 30 trillion yuan of wealth management products, more than 90% are fixed-income products. Since last year, with several rounds of cuts in deposit rates, the yield advantage of wealth management products has gradually become more prominent.