The returns in the bank wealth management market are under pressure, with some products lowering their performance relative to their benchmarks.

According to PuYi Standard data, the overall yield of wealth management products in the market has been decreasing in the past half-month. As of March 15th, the average annualized yield of wealth management products across the entire market last week was 2.32%, a decrease of 7.9 basis points compared to the same period last year. Among them, the annualized yields of cash management and fixed income products decreased by 0.33 basis points and 3.35 basis points respectively. As the overall yield of related fixed-income assets continues to decline, several wealth management companies have adjusted the performance benchmarks of some of their wealth management products. China Post Wealth Management, Agricultural Bank Wealth Management, Minsheng Wealth Management, and Industrial Bank Wealth Management have successively announced in a notice that they will be lowering the performance benchmarks of several of their products. Despite facing downward pressure on yields, the market is running smoothly overall and has not seen a wave of redemptions. Funds are shifting from deposits to the wealth management market in a structural manner.