In the first quarter, bank wealth management rankings adjusted, industry competition shifting focus from channels to investment research capabilities.

In the first quarter of 2026, there was another adjustment in the ranking of the management scale of bank wealth management subsidiaries, with the advantages of joint-stock bank wealth management subsidiaries further highlighted and the industry concentration continued to rise. Industry insiders believe that as the existing businesses accelerate their migration to licensed institutions, the banking wealth management industry is transitioning from scale expansion to structural restructuring, and the competitive logic is gradually shifting from channel-driven to driven by investment research and asset allocation capabilities.