Since the beginning of this year, the return on wealth management has gradually rebounded. In order to further enhance its attractiveness to customers and compete for market share, multiple bank wealth management subsidiaries have launched a limited time rate "promotion war". According to reporter statistics, since June, multiple wealth management companies such as Jianxin Wealth Management, Bank of China Wealth Management, CMB Wealth Management, and Agricultural Bank of China Wealth Management have issued rate adjustment announcements, announcing the reduction of sales and management rates for some products. After the adjustment, the management rates for multiple products have been reduced to zero. On June 28th, Jianxin Wealth Management announced in a statement that it will reduce the sales rates of its 27 products within a specified period of time, with the maximum reduction adjusted from 0.4% per year to 0.15% per year; In addition, the management rates for the four products will be lowered within a specified period of time, all of which will be adjusted from 0.2% per year to 0.15% per year. The starting date for adjustments is mostly early July, while the deadline for adjustments includes September, October of this year, and January 2024. After the adjustment deadline, the rates will be restored to the original rate level. Previously, Bank of China Wealth Management announced that it would offer discounts on the B share rate of the "Bank of China Wealth Management Stable Wealth (Quarterly Gain) 004" product from July 7 to October 7, reducing the sales service rate from 0.30% (annualized) to 0.10% (annualized). CMB Wealth Management also announced that it plans to offer phased rate discounts to the "CMB Wealth Management Winning Chaozhao Zhaojin Diversified and Progressive Cash Management Wealth Management Plan", reducing the sales service rate from 0.2% per year to 0.02% per year, with a discount period from June 28th (inclusive) to July 15th (inclusive). It is worth noting that this is also the second cost reduction for the product within six months. At the end of 2022, the product announced the adjustment of the fixed investment management rate from 0.3% per year to 0.2% per year. Agricultural Bank of China Wealth Management has also adopted preferential rates for its three products since June 11th. Among them, the investment management rates for two fixed income products, "Agricultural Bank Shunxin Lingdong 365 day fixed income RMB wealth management products (L share)" and "Agricultural Bank Shunxin Lingdong 1080 day fixed income RMB wealth management products (L share)", have been reduced from 0.20% per year to 0.05% per year, with a downward adjustment of 75%. The investment management fee for another hybrid financial product, "Agricultural Bank of China Shunxin Lingdong 720 day hybrid RMB financial product (L share)," has also decreased from 0.20% per year to 0.10% per year, a decrease of 50%. Previously, several bank wealth management companies, including Hangzhou Bank Wealth Management, Everbright Wealth Management, and China Post Wealth Management, announced that they would offer rate discounts to some products. From the perspective of the rate reduction, some financial product management rates have been reduced to zero. The fixed management rate of Ningyin Wealth Management Ningxin Tiantian Gilded Cash Management Product 1 (C share) has decreased from 0.4%/year to zero, a decrease of 40 basis points, and the discount period is from June 28th to July 31st. According to the announcement of Bank of China Wealth Management, the "Bank of China Wealth Management - Enjoy Every Day" product rate will be discounted from June 21 to July 5, and the fixed management rate of the product will be reduced from 0.15% per year to 0.00% per year. Affected by factors such as fluctuations in the net value of wealth management products caused by previous fluctuations in the bond market, customers are concerned about