Revenues from China's private banking sector are expected to grow from 23.3 billion yuan in 2010 to 46.8 billion yuan by 2015.
China's shadow banking scale is around 15 trillion yuan ($2.38 trillion) to 17 trillion yuan, around one third of the country's GDP, ANZ said in a report on Wednesday.
Blamed in part for the US subprime mortgage crisis, the shadow banking system has proliferated in China in recent years, arousing fears of possible economic instability.
China's shadow banking sector has become a potential source of systemic financial risk over the next few years.
China's shadow banking system has experienced explosive growth and played an increasingly apparent role in funding investment over the past decade.
Hoping to help cash-strapped small and medium-sized enterprises in Wenzhou, Yang Jiaxing has applied for regulators' permission to launch a private bank.
The Supreme People's Court on Friday rejected the death sentence for millionaire Wu Ying, in what experts described as a possible turnaround.
Stricter supervision of unofficial loan industry is needed to contain its negative effects and maintain financial stability.
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