CBRC: By the end of 2024, the custodial scale of banking wealth management products will reach 18.22 trillion yuan, a year-on-year increase of over 12%.

The China Banking Association recently released the "China Asset Custody Industry Development Report." The report shows that asset custody institutions are transitioning from the traditional role of "gatekeepers of the capital market" to comprehensive service providers, and the development of financial technology is continuously promoting the digitization of custodial services. By the end of 2024, the scale of asset management products custody in China's banking industry reached 182.20 trillion yuan, an increase of 12.64% over the previous year, with the scale of outsourced business operations of asset management products reaching 8.88 trillion yuan.