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In my humble opinion, in the future, we can replace the position of government bonds from two angles: interest rate bonds, especially high dividend companies, and lower the position of government bonds. Because now you can exchange liquidity through other channels, you don't have to have so many assets with very strong liquidity. Depending on the situation, stocks and funds that are growing in equity assets can be handed over to institutions for care. Don't expect Baosi to raise the stock assets too high, and the repayment rate and other indicators will follow. To sum up, it is still possible to achieve an implied hypothetical return of more than 4.5%. Moreover, if the regulatory authorities think there is risk, the predetermined interest rate will be adjusted.In my humble opinion, in the future, we can replace the position of government bonds from two angles: interest rate bonds, especially high dividend companies, and lower the position of government bonds. Because now you can exchange liquidity through other channels, you don't have to have so many assets with very strong liquidity. Depending on the situation, stocks and funds that are growing in equity assets can be handed over to institutions for care. Don't expect Baosi to raise the stock assets too high, and the repayment rate and other indicators will follow. To sum up, it is still possible to achieve an implied hypothetical return of more than 4.5%. Moreover, if the regulatory authorities think there is risk, the predetermined interest rate will be adjusted.China Ping 'an Investment Question Answering

China Ping 'an Investment Question AnsweringIn my humble opinion, in the future, we can replace the position of government bonds from two angles: interest rate bonds, especially high dividend companies, and lower the position of government bonds. Because now you can exchange liquidity through other channels, you don't have to have so many assets with very strong liquidity. Depending on the situation, stocks and funds that are growing in equity assets can be handed over to institutions for care. Don't expect Baosi to raise the stock assets too high, and the repayment rate and other indicators will follow. To sum up, it is still possible to achieve an implied hypothetical return of more than 4.5%. Moreover, if the regulatory authorities think there is risk, the predetermined interest rate will be adjusted.First of all, the decline in the yield of government bonds affects the newly allocated assets of China Ping An (hundreds of billions a year), and the earlier purchases are not affected;

Secondly, not all fixed-income products such as bonds held by China Ping An hold interest at maturity.