Some financial products bypass regulatory limits on non-standard investments, hiding multiple risks.

Recently, many wealth management companies have released their annual reports for 2025 on their financial products. Reporters have found that many wealth management products have a large proportion of investments in non-standardized debt assets. Municipal investment companies and internet loan companies are the main financing clients. Experts believe that the preference for non-standard assets in wealth management products is due to their unique advantages of "high yield, low volatility, and easy matching." However, the "Regulations on the Management of Commercial Bank Wealth Management Subsidiaries" issued on December 2, 2018 stipulates that the balance of investments in non-standard debt assets by all bank wealth management subsidiaries shall not exceed 35% of the net assets of the wealth management products at any point in time. Some products have exceeded the regulatory proportion limit, hiding multiple risks.