Legal Analysis: The details of the new asset management rules include:

First of all, financial management is divided into public offerings and private placements. Public offerings can be raised publicly, while private placements cannot exceed 200 investors. Those who eat Xiaozao can invest in some non-standard public offerings. At the same time, the sales starting point for a single public offering financial product will be reduced from the current 50,000 yuan to 10,000 yuan.

Secondly, non-standard assets require strict maturity matching, continue to prevent shadow banking risks, and continue to separately manage and account for financial products.

Third, bank cash management products and fixed-opening products of more than 6 months can refer to monetary funds and implement the amortized cost method.

Fourth, public bank financial management can also invest in securities. The investment amount in securities cannot exceed 10% of the total net assets of the financial management, nor can it exceed 30% of the single stock or fund you invest in.

Fifth, appropriate arrangements may be made for some equity classes and other current special reasons that cannot be returned to the balance sheet.

Legal basis: Issued by the People's Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission and the State Administration of Foreign Exchange on April 27, 2018 in the form of "Yinfa [2018] No. 106 (hereinafter referred to as "New Regulations on Asset Management") jointly issued the "Guiding Opinions on Regulating the Asset Management Business of Financial Institutions" 1. Regulating the asset management business of financial institutions mainly follows the following principles:

(1) Adhere to strict risk control Bottom line thinking. Put the prevention and resolution of asset management business risks in a more important position, reduce existing risks and strictly guard against incremental risks.

(2) Adhere to the fundamental goal of serving the real economy. It not only gives full play to the function of asset management business and effectively serves the investment and financing needs of the real economy, but also strictly regulates and guides it to prevent funds from being transferred from real to virtual from self-circulation within the financial system, and prevents products from being too complex and exacerbating the risk transmission across industries, markets, and regions. .

(3) Adhere to the regulatory concept of combining macro-prudential management with micro-prudential supervision, and combining institutional supervision with functional supervision. Achieve comprehensive and unified coverage of the asset management business of various institutions, adopt effective regulatory measures, and strengthen the protection of the rights and interests of financial consumers.

(4) Adhere to a targeted problem orientation. Focus on setting up unified standards and regulations to address problems such as multi-layer nesting, unclear leverage, serious arbitrage, and frequent speculation in the asset management business. At the same time, financial innovation must seek advantages and avoid disadvantages, divide them into two parts, and leave room for development.

(5) Adhere to active, steady and prudent advancement. Correctly handle the relationship between reform, development, and stability, adhere to the combination of risk prevention and orderly regulation, and fully consider the market's bearing capacity while resolving risks, reasonably set up a transition period, grasp the order, rhythm, and intensity of work, and strengthen market communication , effectively guide market expectations.