Number of online wealth management users in China 2014-2021

By the end of 2021, the number of online wealth management users in China amounted to over 194 million. The country has a booming FinTech industry offering a large variety of products and services, including wealth management products. Under current trends, the number of users was expected to increase further in the next years.

The rise of private wealth management in China

Along with China’s economic development, the country’s financial industry developed as well. On the one hand, the economic rise created a wealthy class of high net worth individuals who had a demand for investment opportunities. On the other hand, China’s financial market matured which created the capacity to absorb the investments of the country’s high net worth individuals. As a result, the size of the wealth management industry almost tripled from 2013 to 2017.

Wealth management for everyone

Traditionally, private banking services had been reserved for wealthy individuals. However, the Fintech industry enabled a broader share of the population to access wealth management services, resulting in a significant share of Chinese citizens using online wealth management services. Popular digital, financial products include monetary funds, time deposits in banks, and stocks.