Second, the net value transformation of asset management products.

Third, product classification management, investors' suitability requirements are improved.

Four, strictly distinguish between standardized assets and non-standardized assets

Fifth, limit the level of leverage

Intransitive verbs prevent liquidity risk and operational risk.

Seven, encourage the establishment of bank asset management subsidiaries, requiring independent custody.

Eight, unified regulatory standards, eliminate regulatory arbitrage.

Nine, improve the entry threshold of the asset management industry, and strictly restrict non-financial institutions.

X. Transitional arrangements

Legal basis: Guiding Opinions on Standardizing Asset Management Business of Financial Institutions Article 1 The following principles shall be followed to standardize the asset management business of financial institutions:

(1) Adhere to the bottom line thinking of strictly controlling risks. Put the prevention and resolution of asset management business risks in a more important position, reduce stock risks and prevent incremental risks.

(2) Adhere to the fundamental goal of serving the real economy. It not only gives full play to the asset management business function, effectively serves the investment and financing needs of the real economy, but also strictly regulates and guides, avoiding the self-circulation of funds in the financial system, preventing products from being too complicated and aggravating the cross-industry, cross-market and cross-regional transmission of risks.

(3) Adhere to the regulatory philosophy of combining macro-prudential management with micro-prudential supervision, and combining institutional supervision with functional supervision. Achieve comprehensive and unified coverage of asset management business of various institutions, take effective regulatory measures, and strengthen the protection of financial consumers' rights and interests.

(4) Adhere to targeted problem orientation. Focusing on the problems of multi-layer nesting, unclear leverage, serious arbitrage and frequent speculation in asset management business, we will formulate unified standards and regulations, and at the same time adhere to the advantages and avoid disadvantages in financial innovation, leaving room for development.

(5) Adhere to active, steady and prudent progress. Correctly handle the relationship between reform, development and stability, adhere to the combination of risk prevention and orderly regulation, fully consider the market affordability while making up your mind to deal with risks, reasonably set the transition period, grasp the work order, rhythm and intensity, strengthen market communication, and effectively guide market expectations.