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Our reporter Lu Mengxue (chinatimes.net.cn) reports from Beijing

"The net value of many bond-based financial products has retreated. The annualized yield of the product I purchased reached 4.18% in the past six months, but in the past month it was only -1.64%, which turned directly from positive to negative. The impact on the returns is very obvious." On August 19, investor Ms. Wang told a reporter from the China Times.

Ms. Wang purchased an R3 medium-risk bank wealth management product, the core advantage of which is "bond bottoming out, with no less than 80% invested in fixed-income assets."

The reporter learned that under the recent adjustment of the bond market, the net value of some bank wealth management products that are allocated with bonds and bond funds has retreated to a certain extent, and some products have even "broken net value". According to statistics from Zhang Wei, chief fixed income of China Merchants Securities, due to the large short-term adjustment of the bond market, the 7-day annualized average yield of wealth management was 0.26% from August 11 to August 18, down 162BP from the previous value, and last week, the data had fallen 194BP from the previous value. In other words, since August 5, the 7-day annualized average yield of bank wealth management has fallen by 356BP.