China’s financial sector assets reach 562.2 trillion yuan in Q2 2026

The sharp divergence in growth rates—securities firms expanding nearly five times faster than the overall financial sector—signals a structural shift in China's capital markets, likely reflecting policy-driven moves toward direct financing. This matters for global RWA observers because it underscores the scale of institutional capital that could eventually seek tokenized exposure, though the banking-heavy base remains dominant. The open question is whether this securities surge is sustainable or a one-off rebalancing, and whether regulators will tighten oversight as non-bank leverage grows.