China’s Wealth Management Product Market Shrinks 1.6% in June; Average 6-Month Yield Slips to 2.30%

China’s wealth management product (WMP) market fell to 31.11 trillion yuan in June 2026, down 1.6% from May, while the number of outstanding products rose by 726, according to Puyi Standard data cited by Jiemian News. The market’s average annualized return over the past six months slipped 10.37 basis points month on month to 2.3015%. By category, cash-management WMPs’ average six-month annualized return fell 2.25 bps to 1.1904%, fixed-income products dropped 11.69 bps to 2.4325%, and hybrid products declined 43.69 bps to 3.4993%. Equity-linked WMPs rose 377.71 bps to 12.3858%. Fitch Ratings’ Xu Wenchao said the pullback in low-to-medium risk WMP yields was mainly driven by a bond-market adjustment that affected underlying asset prices. Wind data showed that as of July 6, CMB Wealth Management, CITIC Wealth Management and Industrial Bank Wealth Management each had outstanding WMP balances above 2 trillion yuan, while ICBC Wealth Management stood at 1.95 trillion yuan. Minsheng Wealth Management moved into the top 10 by outstanding scale, surpassing PSBC Wealth Management and CCB Wealth Management.