In May, the market for bank financial products witnessed continued expansion, with the total balance recovering to RMB 31.3 trillion, marking an increase of RMB 500 billion since the end of April. The combined assets of the top 14 bank financial management companies reached RMB 23.92 trillion, representing a month-on-month growth of RMB 330 billion. Amid the backdrop of low interest rates and compressed interest margins, numerous bank financial management firms have taken steps to reduce product fee rates, encompassing both fixed management fees and sales service fees. The dynamics of bank financial products exhibit a pattern of declining towards the end of each quarter and rebounding at the beginning, a trend attributed not only to seasonal factors but also to the "deposit shifting" phenomenon triggered by fluctuations in the bond market and the cut in deposit interest rates by smaller banks.