China's banking wealth management market expands in H1

BEIJING, Aug. 5 (Xinhua) -- China's banking wealth management market grew steadily in the first half of the year, according to the China Banking Wealth Management Registration and Depository Center.

At the end of June, the number of investors holding banking wealth management products reached 104 million, up 13.41 percent year on year, according to the center.

The country's banking system had a total of 25.34 trillion yuan (about 3.55 trillion U.S. dollars) of outstanding wealth management products at the end of June, 24.11 trillion yuan of which were fixed-income products.

There were 37,100 products from 265 banking institutions and 30 wealth management companies by the end of June, up 6.88 percent compared with that of the beginning of the year, the center said.