Original title: analysis on the Market situation and Competition pattern of China's Private Banking Industry in 2020China Merchants BankThe number of customers ranks first: forward-looking Industrial Research Institute
By the end of 2019, the total number of high net worth persons in China had reached 1.32 million, an increase of nearly 6.6 per cent over the previous year and accounting for nearly 20 per cent of the Asia-Pacific region. The asset management scale of Chinese private banks increased from 12.26 trillion yuan in 2018 to 14.13 trillion yuan in 2019, a growth rate of 15.25%. The number of private banking customers increased from 875100 in 2018 to 1.0314 million in 2019, a growth rate of 17.86 per cent.
China's 10 billion wealth management market has attracted global attention.
China's economy strives for progress amid stability, and the scale of the wealth market continues to expand. By the end of 2018, China's total private wealth reached US $23.56 trillion (about 165 trillion yuan), an increase of 130% over 2008, the highest growth rate in the world.
The rising number of high net worth and ultra-high net worth people in China has become a powerful engine for wealth growth in the Asia-Pacific region and the world as a whole. By the end of 2019, the total number of high net worth persons in China had reached 1.32 million, an increase of nearly 6.6 per cent over the previous year and accounting for nearly 20 per cent of the Asia-Pacific region.
In 2020, the number of Forbes billionaires on the Chinese list reached 491, with a total net worth of nearly $1.57 trillion (about 11 trillion yuan), with a ten-year compound growth rate of 8.8% and 10.8%, respectively. China's 100 trillion wealth management market has attracted worldwide attention.
Rapid growth of Chinese private banking business
For banks and other financial institutions, private banking business has the characteristics of light capital, low volatility, high value and so on. From 2018 to 2019, under the background of the overall macroeconomic growth slowdown, China's private banking business still presents a booming desktop, and the asset management scale of the industry as a whole and the number of customers have maintained double-digit growth. Among them, the asset management scale of Chinese private banks increased from 12.26 trillion yuan in 2018 to 14.13 trillion yuan in 2019, with a growth rate of 15.25%. The number of private banking customers increased from 875100 in 2018 to 1.0314 million in 2019, a growth rate of 17.86 per cent.
The structure of the first echelon remains stable.
By the end of 2019, those in the first echelon of Chinese private banks with AUM exceeding 1 trillion yuanIndustrial and Commercial Bank of China、Agricultural Bank、Bank of China Ltd.(safeguarding rights)、China Construction Bank CorporationAnd China Merchants Bank continue to maintain a leading position in the industry. Among them, China Merchants Bank ranks first with 2.72 trillion yuan of AUM and 154700 customers, continuing the leading edge. Industrial and Commercial Bank of China, Bank of China Ltd. and China Construction Bank Corporation, the three private banks, all grew their AUM and customers by more than 10% in 2019, making steady progress. Agricultural Bank Of China ranked first among the top five banks with 25.20% AUM growth and 17.27% customer growth in 2019.
Those in the second echelon of Chinese private banks with an AUM exceeding 300 billion yuanBank of Communications、China CITIC Bank Corporation、Everbright Bank、Shanghai Pudong Development Bank、China Minsheng Banking Corp、Ping an Bank、Industrial bankMost of the assets under management have maintained a growth rate of 15% or more. Among them, Ping an Bank 2, which is empowered by group and technology, ranks the second echelon of seven banks with an AUM growth rate of 54.99% and a customer growth rate of 45.90% in 2019, and has the potential to impact the first echelon of private banks.
For more data, please refer to the forward-looking Industrial Research Institute's "China Private Bank Market Prospect and Investment Strategic Planning Analysis report". At the same time, the forward-looking Industrial Research Institute also provides industrial big data, industrial planning, industrial declaration, industrial park planning, industrial investment and other solutions.
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