The following is the Financial management market annual report of China’s banking industry in 2020 From Banking financial management registration and trusteeship Center recommended by recordtrend.com. And this article belongs to the classification: Chinese economy, research report.
According to the annual report, by the end of 2020, the scale of bank financial management market had reached 25.86 trillion yuan, a year-on-year increase of 6.9%; in that year, it had created 993.25 billion yuan of income for investors, a year-on-year increase of 7.13%.
“In recent years, the new development concept has put forward higher requirements for the asset management industry, which requires the asset management business to take the initiative to give full play to the advantages of efficient and transparent allocation of financial resources, and make greater contributions to support the direct financing system, broaden the channels of residents’ property income, and improve the quality and efficiency of serving the real economy.” Yang Dongning, director of the innovation Department of the China Banking and Insurance Regulatory Commission, said at the annual report conference, “with the implementation and improvement of the new regulations on asset management and financial management, the financial management business has been rectified in an orderly manner according to the supervision and has made phased progress.”
The annual report points out that since 2020, the relevant regulatory policies of the financial industry have been continuously improved. Since the promulgation of the new asset management regulations, the supporting regulatory policies related to bank financial management have been launched one after another, and the financial management business supervision system has been gradually improved to further standardize the development of the financial management industry from the aspects of industry supervision, main body governance, business norms and so on. In the process of gradual improvement of bank financial management system, the transformation direction and development pattern of financial management business are gradually clear.
On the basis of continuous strengthening of supervision, the transformation of industry norms has been steadily promoted. According to the data of the annual report, in 2020, with the focus on the transformation of net worth, the standardized development of bank financial services will be steadily promoted.
First, the scale and proportion of net worth products continued to grow rapidly. By the end of 2020, the existing scale of net worth financial products was 17.4 trillion yuan, with a year-on-year increase of 59.07%; net worth products accounted for 67.28% of the existing balance of financial products, with an increase of 22.06 percentage points.
Second, the stock of assets to resolve orderly. While vigorously issuing net worth products to promote transformation, banks accelerated the disposal of existing assets, and the proportion of compliant new products continued to rise.
Third, the scale of interbank financing and investment continued to shrink. By the end of 2020, the remaining balance of interbank financial management was 0.39 trillion yuan, a year-on-year decrease of 53.86%; the investment scale of financial products nested through various asset management products was 8.93 trillion yuan, a decrease of 25.71% compared with that before the issuance of the new asset management regulations.
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