China WMP industry reaches US$2trn

摘要

Wealth-management assets in China's banking sector jumped 24% in the first half, but most of these are either invested in low-risk securities or cash - not risky shadow banking investments - according to a report commissioned by the china banking regulatory commission. The report unveils wealth-management exposures at China's banks for the first time, shedding light on a murky sector often associated with the shadow banking industry. The total outstanding amount of assets in bank wealth-management products stood at Rmbl2.65trn (US$2trn) at the end of June, up 24% from the end of 2013, the China Banking Wealth Management Registration System said in the report. The total is about one third of the size of China's domestic bond market and close to a quarter of the country's 2013 GDP.