Li Yang: In the context of interest rate cuts and narrowing interest rate spreads, banks and other institutions must transform. The wealth management market is expected to rise to 45 trillion yuan next year.

At the 5th China Listed Companies Industrial Upgrading Summit today, Li Yang, director of the National Financial and Development Laboratory and member of the Chinese Academy of Social Sciences, stated that in the face of interest rate cuts and narrowing interest spreads, banks and other institutions must transform, develop asset management businesses, strengthen asset trading businesses, and promote integrated operations, etc. By 2024, the scale of China's wealth management market will reach 29.95 trillion yuan. Li Yang said that it is expected to exceed 32 trillion yuan by 2025 and is expected to rise to 45 trillion yuan by 2026. "With the macroeconomic growth expected to remain around 5%, the bank's wealth management market still has considerable growth potential."