Core Viewpoint - Recent adjustments by banks to increase the risk ratings of certain public fund products are primarily aimed at complying with regulatory requirements, specifically the "Sales Agency Management Measures" [1][3] Group 1: Risk Rating Adjustments - Several banks, including China Construction Bank and CITIC Bank, have raised the risk ratings of public fund products, with Construction Bank adjusting four funds from R3 to R4 [1] - Agricultural Bank of China has announced a dynamic evaluation rule for risk ratings, collaborating with third-party evaluation agencies for continuous risk assessment throughout the product lifecycle [2] - CITIC Bank has adjusted the risk ratings of 158 fund products, emphasizing that if the new rating exceeds the investor's risk tolerance, it may lead to failed deductions for regular investments [2] Group 2: Regulatory Compliance - The adjustments are in line with the "Sales Agency Management Measures" issued by the National Financial Supervision Administration, which mandates banks to independently and prudently assess the risk of asset management products [3] - The principle of adopting the higher risk rating when discrepancies arise between the bank's assessment and that of third-party agencies is emphasized [3] Group 3: Sales Suitability Management - The upcoming implementation of the "Sales Agency Management Measures" is expected to improve issues related to the accurate matching of fund product risk levels with clients' actual risk tolerance [4][5] - There is a noted mismatch between the risk assessment systems for clients and the risk rating systems for products, leading to challenges in sales suitability management [5] - The new regulations require banks to conduct thorough due diligence on fund products, ensuring the accuracy and completeness of product information [5]