PSBC Deputy Governor Xu Xueming stated at the 2026 interim results conference that wealth management has emerged as a crucial opportunity for retail banking amid fierce industry competition.

Xu noted that commercial banks' retail operations have faced significant headwinds recently, including weak consumer spending, rising non-performing assets, and intensifying market rivalry, which have collectively increased pressure on the sector. He emphasized that wealth management represents a promising avenue for growth within this challenging landscape.

The bank has set a clear strategic objective to cultivate non-interest income as its second growth engine, positioning this as a core pillar of its business transformation. Xu highlighted the rapid progress PSBC has made in recent years, particularly in digital banking services.

According to Xu, the bank's mobile banking customer experience has ranked first in the market for two consecutive years, a distinction earned through independent market evaluations rather than internal assessments. He also underscored the bank's swift advancements in product selection and asset allocation capabilities, which have contributed to its competitive edge in the wealth management space.