Ali small and micro executives said the balance of treasure is a vampire is a big mistake

[introduction] the executive said, let the user get loans, and can not pay, this is just one of the balance of treasure a naturally or half unconsciously "misunderstanding".



technology news (Le Tian) February 22nd news, recently about the balance of treasure impact bank comments emerge in an endless stream of CCTV security information channels, executive editor and chief news commentator Niu Wenxin Bowen said, the balance of treasure is the body lying on the Bank of the "vampire", typical financial parasites". In this regard, Ali small and Micro Financial Services Group Chief Strategic Officer Shu Ming publicly refuted today.

Shu Ming said that small and micro payment service launched the balance of treasure intention is to give everyone on the Alipay money to provide a legitimate and stable income, and will not affect the market interest rates, mortgage interest rates, it will not pull the high financing costs of the whole society, allowing users to get loans, and not salary. This is just one of the balance of treasure a "misunderstanding" naturally or half unconsciously:

domestic money market fund size is relatively small, can not seriously interfere with the interest rate market


is connected to the balance of treasure Celestica increasedliberty monetary market fund. As of 1 at the end of 2014, the total size of the fund Chinese money market was 953 billion 200 million yuan, compared with 47 trillion and 900 billion of residents deposits, 103 trillion and 400 billion of all the total Renminbi deposits is still very small, and the deposits of residents is 2%, and the entire balance of RMB deposits accounted for 0.9%, less than one percent.

even with the total size of about 10 trillion yuan of financial products, money market funds are less than its total size of 1/10. It is hard to imagine that the money market fund will have a huge impact on the overall market interest rates, will seriously interfere with the interest rate market".

two, Yu Ebao is a follower of market interest rates, rather than the decision maker

according to the "Interim Provisions" of the management of money market funds, money market fund investment targets mainly within a year in cash, bank deposits, certificates of deposit, period of three hundred and ninety-seven days or less period within one year bonds, bond repurchase, within the period of the year the central bank bills. From a practical point of view, the current domestic money market funds are mainly invested in the inter-bank market agreement deposits, bond repurchase and other varieties.

of the inter-bank market participants including banks, fund companies, insurance companies, securities companies, financial companies, auto finance companies, the fund company as one of the participants in the market, the size is very small, but the money market fund as a fund company, the scale is smaller, it is difficult to influence the market interest rate from the overall level.

2013 end of the year interbank bond market volume:


from the actual operating situation, the money market fund is more of the recipient of market interest rates, rather than the decision maker. As can be seen from the chart, the balance of treasure yields and%

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