China Wealth Products Hit $5 Trillion in Hunt for Higher Yields

China’s outstanding wealth management products (WMPs) swelled nearly 10% year-on-year to 33.7 trillion yuan ($5 trillion) at the end of June, driven by a widening hunt for yield in a persistent low-interest-rate environment.

Average annualized returns edged up to 2.05% in the first half, up from 1.98% for all of 2025, according to China Wealth (Asset) Management Registry and Custody Co. Ltd., a state-owned industry registry. 

Alongside the expansion, China’s massive wealth management sector is undergoing a structural shift. Facing compressed margins on traditional safe havens, managers are funneling more cash into mutual funds and mixed-asset portfolios.