More Chinese investors held wealth management products in H1

A total of 136 million investors held various wealth management products in China at the end of June, an increase of 8.37 percent since the beginning of the year, according to the China Banking Wealth Management Registration and Depository Center.

China's banking wealth management market expanded 7.53 percent year on year to total 30.67 trillion yuan (about 4.29 trillion U.S. dollars), with 194 banking institutions and 32 companies offering some 41,800 wealth management products, the center said.

Closed-end products with maturities of over one year accounted for 72.86 percent of all such products by the end of June, a rise of 4.99 percentage points year on year.

These wealth management products supported the real economy with approximately 21 trillion yuan in funds delivered via various channels, the center said. ■