Deposit moving accelerates, financial management scale exceeds 31 trillion yuan.

As loan interest rates decrease, several state-owned banks have started to lower their deposit rates this week. Due to the ongoing expectations of interest rate cuts, the scale of wealth management has continued to hit new highs this year, exceeding 31 trillion yuan in May. Data obtained by the First Financial reporter from several bank wealth management subsidiaries and pu yi showed that as of May 20, the total scale of wealth management reached approximately 31.3 trillion yuan, a sharp increase of around 1.6 trillion yuan from the beginning of the year, compared to 29.68 trillion yuan in December 2024. Personnel from wealth management subsidiaries told reporters that the products with the most growth in scale are mainly short-term products, with the effect of "deposit substitution" beginning to show. Some individual gold business professionals also mentioned to reporters that previously popular products were cash management and pure debt products, but since the stock market has warmed up this year, a "fixed income +" strategy incorporating a small amount of equity assets has also become popular, with wealth management subsidiaries issuing products based on Hong Kong stock strategies.