BEIJING, Feb. 5 (Xinhua) -- Investors holding wealth management products (WMPs) issued by banks and their affiliated wealth management firms reached 114 million by the end of 2023, up 17.84 percent year on year, reported Xinhua Finance on February 2.
The report cited an annual report released by China Banking Wealth Management Registration & Depository Center as saying, highlighting that outstanding WMPs on China's banking wealth management market totaled 39,800 ones by the end of last year, up 14.86 percent from the beginning of 2023.
These WMPs issued by 258 banks and 31 affiliated wealth management firms valued 26.8 trillion yuan by the end of 2023.
By product structure, fixed-income WMPs on China's banking wealth management market valued about 25.82 trillion yuan, accounting for 96.34 percent of all the comparable outstanding WMPs, up 1.84 percentage points from the start of 2023.
By product duration, outstanding closed-end WMPs with terms longer than one year made up 67.02 percent of all the outstanding closed-end WMPs, down 5.58 percentage points from the start of 2023.
Average weighted terms of closed-end WMPs issued by banks and affiliated wealth management companies last year stayed between 288 days and 381 days. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
A single purchase
