China sees more investors in bank wealth management products
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E-mail Xinhua, February 7, 2021
The number of investors holding wealth management products in the banking market hit 41.62 million in China at the end of 2020, up 86.85 percent from the previous year, among which individual investors accounted for 99.65 percent.
The investors pocketed 993.25 billion yuan (153.75 billion U.S. dollars) of income through bank wealth management products, up 7.13 percent year on year, according to the China Banking Wealth Management Registration and Depository Center.
China's banking system had 25.86 trillion yuan of outstanding wealth management products at the end of 2020, up 6.9 percent year on year.
The wealth management products have been supporting the real economy and the outstanding funds channeled to the real economy stood at 22.21 trillion yuan at the end of 2020, the center said.
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