B[In the first eight months, the net increase in equity-containing products of 14 financial management companies was nearly 2 trillion yuan! Cash products fell by more than 180 billion yuan] September 14th, Continuing the increase in the return of deposits in July, the scale of bank wealth management continued to hit a new high in August. On September 14, exclusive data compiled by reporters from trusted sources in the industry showed that 14 wealth management companies (including 6 state-owned bank wealth management companies and 8 joint-stock bank wealth management companies, accounting for approximately 80% of the market share) with a management scale of more than 1 trillion yuan had a continued scale of approximately 27.4 trillion yuan as of the end of August, with a net inflow of over 280 billion yuan from July. According to data from the Banking Financial Management Registration and Custody Center, the total market size reached 33.66 trillion yuan at the end of June this year. According to calculations based on exclusive data compiled by reporters, even if only the increase in the past two months of 14 financial management companies is taken into account (an increase of 1.46 trillion yuan in July and an increase of 0.28 trillion yuan in August), the total scale of the financial management market has reached approximately 35.4 trillion yuan. In the first eight months of this year, the net increase in the existing scale of 14 major wealth management companies was approximately 1.96 trillion yuan. In terms of categories, the scale of equity-containing products has increased by more than 1.98 trillion yuan, non-cash pure debt products have only increased by about 176 billion yuan from the beginning of the year, and the scale of cash products has dropped by more than 180 billion yuan from the beginning of the year. (Securities Times) B[ICBC Wealth Management Co., Ltd.’s former Deputy Party Secretary and Chief Supervisor Xu Hai’s first-instance verdict in the bribery case] September 8th, according to the “Guizhou High Court” WeChat official account, on September 8, 2026, the Liupanshui Intermediate People’s Court of Guizhou Province publicly pronounced the first-instance verdict on ICBC In the case of Xu Hai, the former deputy secretary of the party committee and chief supervisor of the Financial Management Co., Ltd., the defendant Xu Hai was sentenced to ten years and six months in prison for accepting bribes and fined RMB 1 million. Xu Hai's bribery income and interest were recovered in accordance with the law and turned over to the state treasury.
After trial, it was found that from 2000 to 2020, the defendant Xu Haili served as a member of the Party Committee and Vice President of the Yunnan Branch of the Industrial and Commercial Bank of China Co., Ltd., the Party Committee Secretary and President of the Gansu Branch of the Industrial and Commercial Bank of China Co., Ltd., and the President of the Industrial and Commercial Bank of China Co., Ltd. He used his position as Secretary of the Party Committee and President of the Yunnan Branch of Commercial Bank Co., Ltd. to provide assistance to relevant units and personnel in obtaining bank loans and undertaking engineering projects, and illegally received property equivalent to more than 12.08 million yuan.
The Liupanshui Intermediate People's Court held that defendant Xu Hai's behavior constituted the crime of accepting bribes, and the amount of bribes he accepted was extremely large and should be punished in accordance with the law. In view of the fact that Xu Hai truthfully confessed his crime after returning to the case, took the initiative to explain some bribery facts that were not known by the case-handling agency, confessed his guilt and repented, and actively returned the stolen goods, he has legal and discretionary circumstances for lenient punishment, and he can be given a lighter punishment according to law. The court then made the above judgment.
It is reported that the Liupanshui Intermediate People's Court recently held a public hearing on the case. During the trial, the procuratorate presented relevant evidence, and the defendant Xu Hai and his defender conducted cross-examination. The prosecution and defense fully expressed their opinions under the auspices of the court. Xu Hai made a final statement and expressed his guilt and repentance in court. People from all walks of life attended the trial.
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