Diversification of investment options, allocation of funds for brewing diversion.

Recently, the Ministry of Finance and the State Taxation Administration issued an announcement that starting from August 8, 2025, value-added tax will be levied on the interest income of new national bonds, local government bonds, and financial bonds issued after that date. Interest income from national bonds, local government bonds, and financial bonds issued before that date will continue to be exempt from value-added tax until the bonds mature. On the day the news was released, the market reacted instantly - the new tax on bonds meant that holding costs skyrocketed, and bond yields surged. However, just a few hours later, the situation suddenly reversed: old bonds became hot items due to their "tax-exempt privilege", institutional funds scrambled to buy, the supply-demand situation reversed instantly, and bond yields plummeted steeply. This "roller coaster" market eventually calmed down as the market gradually digested the information. Many bond traders expressed lingering fear: "From cutting losses to scrambling for purchases, the market changes faster than turning a page!"