Core Viewpoint - Commercial banks are actively adjusting the risk ratings of mutual funds they sell, enhancing their wealth management services as deposit rates decline and residents' awareness of wealth management increases [1][3][9]. Group 1: Risk Rating Adjustments - On November 25, China Construction Bank announced an increase in the risk ratings of 87 mutual fund products, marking the largest adjustment in two years [3]. - This adjustment includes 32 funds upgraded from R2 (medium-low risk) to R3 (medium risk) and 55 funds from R3 to R4 (medium-high risk), primarily affecting bond and mixed funds [3][4]. - Other banks, including Minsheng Bank and CITIC Bank, have also adjusted their fund risk ratings multiple times this year, indicating a broader trend across the banking sector [4][9]. Group 2: Fee Rate Discounts - Many banks are offering promotional discounts on fund subscription fees to boost sales, with some fees reduced to as low as 10% of the original rate [6][7]. - For example, Industrial and Commercial Bank of China has introduced a 90% discount on certain fund subscriptions starting November 24 [7][8]. - Banks are also conducting internal reviews of customer investment risk appropriateness, particularly for vulnerable groups such as the elderly [5]. Group 3: Wealth Management Strategy - Commercial banks are significantly enhancing their wealth management business to increase intermediary income, with many reporting a year-on-year increase in fee and commission income [9]. - Analysts suggest that as deposit rates decline, there will be a shift towards higher-risk financial products, and the demand for equity asset allocation may increase due to demographic changes and policy support [9].