The one billion-yuan mezzanine fund invested by China Merchants Bank in Hony Capital, an offshoot of Legend Holdings, presents a significant risk of possible default. Anbound researchers believe that this has exposed the chaos and dilemma of the Chinese financial markets, with excess capital, immature capital markets and a mixed bag of financial practitioners being the main reasons. However, it is certainly not enough to rely on enhanced supervision, nor can this really solve the problem. To straighten out the financial market, ultimately, it depends on the development and standardization in development.