More than 600 financial products have withdrawn from the market ahead of schedule this year.
On June 1st, Qingdao Rural Commercial Bank announced the early termination of its "Chuangfu Youxiang 813 Wealth Management Product" due to triggering the stop-profit clause; on May 29th, Minsheng Wealth Management, Xingyin Wealth Management, and Zhaoyin Wealth Management issued notices of early termination for several products. Wind data shows that there have been approximately 650 wealth management products exiting early so far this year, significantly more than the 400-odd products in the same period last year, involving state-owned banks, joint-stock banks, city commercial bank wealth management companies, and some small and medium-sized bank proprietary products. From profit-locking to liquidation due to small scale, from early maturity of underlying assets to managers proactively stopping based on the overall operation of the product, early termination of wealth management products has become the norm in the background of low interest rates and comprehensive net asset values of wealth management products.
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