The wealth management market is a giant blue ocean for financial innovation and development. By the end of 2018, the total investable financial assets of Chinese citizens had reached $20.89 trillion (RMB 147 trillion). And it is expected that the investable financial assets of individuals will reach $34.54 trillion (RMB 243 trillion) by 2023. From the perspective of high-net-worth clients, in 2018, the number of high-net-worth individuals with personal investable financial assets of $.852 million (RMB 6 million) or more reached 1.67 million, ranking the second in the world.

The development of wealth management will reshape China's financial structure

Financial system is a general term for the organic components of a country's financial system, including economic entities, intermediaries, exchange markets and financial instruments involved in capital flows and market transactions. Each country's financial system has a different structure, which is determined by resource endowment and economic structure. China's financial system is dominated by banks and the social financing function still relies on the banking system. The income structure and asset structure of commercial banks are obviously marked by financing. With the development of economy, enterprises are increasingly relying on direct financing tools such as bonds and stocks and residents' financial needs are increasingly diversified. The wealth structure of residents is also more allocated from single savings to financial management, funds, stocks, bonds, insurance and other fields. The proportion of personal customer finance and savings deposit changed. People began to pay more attention to the income and deposits were quickly transferred into the financial market. However, with the exposure of risks, people began to focus more on the balance between the safety, profitability and liquidity of asset portfolios instead of capital gains, so as to increase the value, preserve t...

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The wealth management market is a giant blue ocean for financial innovation and development. By the end of 2018, the total investable financial assets of Chinese citizens had reached $20.89 trillion (RMB 147 trillion). And it is expected that the investable financial assets of individuals will reach $34.54 trillion (RMB 243 trillion) by 2023. From the perspective of high-net-worth clients, in 2018, the number of high-net-worth individuals with personal investable financial assets of $.852 million (RMB 6 million) or more reached 1.67 million, ranking the second in the world.

The development of wealth management will reshape China's financial structure

Financial system is a general term for the organic components of a country's financial system, including economic entities, intermediaries, exchange markets and financial instruments involved in capital flows and market transactions. Each country's financial system has a different structure, which is determined by resource endowment and economic structure. China's financial system is dominated by banks and the social financing function still relies on the banking system. The income structure and asset structure of commercial banks are obviously marked by financing. With the development of economy, enterprises are increasingly relying on direct financing tools such as bonds and stocks and residents' financial needs are increasingly diversified. The wealth structure of residents is also more allocated from single savings to financial management, funds, stocks, bonds, insurance and other fields. The proportion of personal customer finance and savings deposit changed. People began to pay more attention to the income and deposits were quickly transferred into the financial market. However, with the exposure of risks, people began to focus more on the balance between the safety, profitability and liquidity of asset portfolios instead of capital gains, so as to increase the value, preserve t...

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