A staff member (right) hands over a stack of renminbi banknotes to a customer at an Industrial and Commercial Bank of China branch in Beijing, capital of China, Aug 30, 2019. (PHOTO / XINHUA)
BEIJING – China's bank wealth-management market continued to expand by the end of September, industry data showed.
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From January to September, investors earned a total of 640 billion yuan via bank wealth-management products, data showed
The country's banking system had a total of 27.95 trillion yuan (about $4.37 trillion) of outstanding wealth-management products at the end of September, up 9.27 percent year-on-year, data from the China Banking Wealth Management Registration and Depository Center showed.
In the third quarter, China's banking system reported 9.88 million new investors of wealth-management products. Some 11,700 new wealth-management products were issued in the period, raising 31.87 trillion yuan.
From January to September, investors earned a total of 640 billion yuan via bank wealth-management products, the data showed.
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