People's Bank of China: By the end of 2025, the total assets of wealth management products will reach RMB 119.9 trillion, with deposits and certificates of deposit accounting for nearly half of the new underlying assets.

Yan Xiandong, director of the Investigation and Statistics Department of the People's Bank of China, stated at a press conference at the State Council Information Office on January 15 that by the end of 2025, the total assets of asset management products reached 119.9 trillion yuan, an increase of 13.1% compared to the same period last year. Among them, bank wealth management products reached 34.5 trillion yuan, public funds 14.8 trillion yuan, asset management trusts 22.8 trillion yuan, and the total of asset management products from insurance, securities firms, funds, futures, and financial asset management companies was 21.6 trillion yuan. On the one hand, in 2025, funds raised by households and non-financial enterprises for asset management products increased by 40 billion yuan and 10 billion yuan respectively, an increase of 337.9 billion yuan and 200 billion yuan compared to the full year of 2024. On the other hand, in 2025, deposits and certificates of deposit in the underlying assets of asset management products increased by 46 trillion yuan, accounting for half of the total increase in various underlying assets of asset management products.