On April 30, Jin10 reported that according to data from the Asset Management Association of China, in March 2025, securities and futures operating institutions recorded a total of 1,463 private sale asset management products, an increase of 76.69% month-on-month and an increase of 94.03% year-on-year; the establishment scale was 68.82 billion yuan, an increase of 50.51% month-on-month and an increase of 28.82% year-on-year. As of the end of March 2025, the total scale of private sale asset management products of securities and futures operating institutions reached 11.84 trillion yuan (excluding social security funds and enterprise annuities), a decrease of 33.80 billion yuan compared to the end of last month, a month-on-month decline of 2.77%.