Where did the first quarter deposits "move" to? Insurance has become an important direction for attracting money.

Recently, the first quarter financial statistics have been released. Non-banking financial institutions' deposits have increased by 2.03 trillion yuan, an increase of 1.72 trillion yuan compared to the same period last year, reaching a historical high. Household deposits increased by 7.68 trillion yuan, a decrease of 1.54 trillion yuan compared to the same period last year. Journalists found through cross-verification of multiple data points that the large amount of deposits moving out of the market does not seem to have flowed into bank wealth management products, as the scale of bank wealth management products fell by over 1 trillion yuan in the first quarter. However, equity mutual funds have also seen a significant decrease in scale, while FOF funds and their scale have both increased. In terms of insurance, the bancassurance channel has focused on the sale of dividend insurance products, leading to a significant increase in premium income. It can be seen that while household deposits have decreased, financial investments have increased. Funds are shifting from the banking system to the non-banking system, but not necessarily entering the stock market. This still depends on the rate of return and profit-making effects.