Small and medium-sized banks in China are shifting their wealth management strategies, moving away from self-operated products towards agency sales. Since July, numerous banks without dedicated wealth management subsidiaries have announced new partnerships with wealth management firms to distribute their products. This transition sees a significant reduction in self-operated wealth management assets, with some institutions completely phasing them out, indicating a strategic pivot towards becoming channel service providers in the wealth management sector. AI
RANK_REASON Article discusses a trend in the financial industry regarding banking strategies, not a core AI development.
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