This report by HSBC Equity Research highlights the growth potential of wealth management in China. Despite the industry already exceeding RMB100 trillion in assets under management, the products and services offered are still rudimentary and advisory services limited. HSBC predicts that the number of high net worth individuals in China will rise to 5 million by 2025, creating a significant opportunity for banks to move to the next level of the wealth management industry. The report emphasizes the importance of private banking as a way for banks to strengthen their offerings and boost revenues.
