An Empirical Study On The Factors Influencing The Return Rate Of Net Worth Wealth Management Products Under The New Rules Of Asset Management

Due to the increase of residents' wealth accumulation and the continuous lowering of bank deposit interest rates in recent years,the wealth management business of China's commercial banks has maintained rapid growth.On the one hand,the wealth management products have improved the returns of commercial banks and investors,on the other hand for the rapid development of investment projects to broaden the sources and channels of funds,and thus by the entire banking sector.But behind the rapid development of wealth management products,there are also many drawbacks: Some businesses are not standardized,multi-layer nested,rigid payment,evading financial regulation and Macroeconomic regulation and control,etc.,is A huge financial risk.Therefore,the regulatory measures aimed at the financial management business of commercial banks have been continuously promulgated,and the "guiding opinions on regulating the asset management business of Financial Institutions"(hereinafter referred to as "new regulations on financial management")came into being on April 27,2018,and require all commercial banks to reduce the scale of non-compliant wealth management products in an orderly manner during the transitional period until the end of 2020,stop the delivery of non-compliant wealth management assets,the core is to break the rigid payment and implement the management of net worth,promoting net worth wealth management products.However,it will take some time to cultivate the customers' acceptance of the net-worth products,which will bring great challenges to the income and transformation of the products in the future.Because the rate of return of wealth management products is the most intuitive feature reflecting the income of wealth management products,for the net value of wealth management products is the net value of the products,so this paper chooses the rate of return of the net value of wealth management products as the research object.This paper first introduces the current situation of each commercial bank's development of wealth management products after the release of the new rules,including the issuance,income,capital preservation and net worth of wealth management products,based on the content of the new rules,this paper analyzes the mechanism of the impact of the new rules on the returns of commercial banks' wealth management products through theoretical analysis,and then uses the multiple linear regression model,this paper makes an empirical analysis on the return rate of the Net-worth Wealth Management Products issued by Z bank from 2018 to 2019,and draws the following conclusions: the product type and offering object factor of the net-worth wealth management products has a negative correlation with the return rate of the Z bank's wealth management products,there is a positive correlation between risk grade,operation time and capital Utilization Direction and the return rate of Z bank's wealth management products.Finally,put forward the related suggestions on the transformation of the net worth of commercial banks after the release of the new capital management rules:to speed up the research and development of net-worth wealth management products,to standardize the operation mode of wealth management products,and to actively educate investors.