China Merchants Bank continues to lead the manufacturers ranking as the largest issuer of retail structured deposits.

The SRP database registered 1,045 retail structured deposits issued in April in China, higher from 941 recorded during the same period of last year. The latest figure also reflected a rise compared to the previous month when 978 structured deposits were sold to the country’s retail market. China: monthly issuance of retail structured deposits between April 2024 and April 2025 Source: SRP Underlyings, payoffs The XAU/USD pair remained the most-used asset for structured deposits, recor