Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizen Xiao Zhan for the clue delivery! CTOnews.com, June 13, according to Yu'e Bao's official Weibo, June 13 marks the 10th anniversary of Yu'e Bao's launch. Yu'e Bao has been connected to 34 money funds, earning 386.7 billion yuan for users over the past ten years, equivalent to 100 million yuan a day for Chinese people.

Yu'e Bao launched on Alipay App on June 13, 2013, creating a money fund model of "purchase at 1 yuan and redeemable at any time", so that people can use the spare money in Alipay for financial management. CTOnews.com noted that in the early days of Yu'e Bao's launch, its annualized yield was as high as 6%, far exceeding the interest on bank demand deposits. Although market interest rates have fallen in recent years and the yield on money funds has fallen to about 2%, it is still higher than 0.2% of demand deposits.

Yu'ebao 's success has attracted many banks and fund companies to follow suit, launching similar "baby" money fund products, lowering the threshold of the entire industry and improving the user experience. According to the report of Fitch rating (Fitch Ratings), a well-known financial service institution in the world, the size of China's monetary fund has exceeded 7 trillion yuan, second only to the United States.

At present, Yu'e Bao has access to 34 money funds, and the average size of funds accessed has increased at least 80 times.

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