BEIJING -- China saw more wealth management product investors in 2022, after it lowered the market entry threshold, according to an industry report.

The number of wealth management product investors was approximately 96.71 million by the end of 2022, increasing 18.96 percent from the beginning of the year, per the report released by the China Banking Wealth Management Registration and Depository Center.

By the end of 2022, the balance of wealth management products stood at 27.65 trillion yuan ($4.03 trillion), down 4.66 percent from the beginning of the year.