Worries About The Growth Of Balance Treasure

< p > June 13, 2013 < a href= "http://www.91se91.com > > balance treasure < /a > on-line, so far has been a whole year.

In the past year, "balance treasure" has made "Internet finance" gradually become a trend while accomplishments of its own. At the same time, the stagnant water in the financial industry has been broken.

Looking ahead, perhaps the balance of treasure is no longer a simple "financial artifact", but more like a precursor to financial reform.

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< p > < strong > wealth management artifact: one year users break 100 million < /strong > /p >

< p > a year ago, the balance treasure was quietly launched.

This click on the mouse can make the money that is lying in the Alipay get the proceeds, the investment threshold is very low, and the redemption and extremely convenient financial product, just as soon as it comes out, gets the market craziness.

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< p > after nearly half a year's brutal growth, by the end of December 2013, the number of customers in the balance reached 43 million 30 thousand, and the scale of the fund reached 185 billion 300 million yuan. After the myth of "10 billion yuan per day" was created during the Spring Festival, by the end of February 2014, the number of users of the balance reached 81 million, and the number of investors exceeded A shares. The scale of funds was more than 500 billion yuan, ranking the four largest Monetary Fund in the world.

At present, the number of users of the balance treasure has quietly broken 100 million.

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< p > under the move of the balance belt, the "Internet finance" trend is gradually rising: last October, Baidu launched the "financial platform". In January of this year, Tencent Inc launched WeChat's "wealth management".

So far, the three major Internet giants in China have been in the layout of the financial market.

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< p > it is noteworthy that the balance Bao who created the "myth of income" is very simple in the profit mechanism. Investment bank agreement deposits, the scattered funds are packaged and then increased to lend to banks. Since the second half of last year, under the influence of "money shortage" and other factors, the banks have tight funds and the interest rate of the agreement deposits has risen, which is an important opportunity for the rise of the balance treasure.

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< p > < strong > growing pains: banks have to curb more than /strong > /p >

Less than P, the rapid rise of the balance treasure has gained more and more controversy and even "blocked".

Some voices believe that the balance of treasure is actually a "financial parasite": with the help of the balance fund and the money fund behind it, low-cost demand deposits have become a deposit for bank agreements. Although the bank system has not yet been discharged, interest has increased by more than ten times, and "seriously interferes with the interest rate market".

In order to develop healthy economy, we should immediately kill the balance treasure.

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< p > at the same time, Shu Ming, chief strategy officer of Ali small and micro financial services group, said that the total scale of the Chinese monetary fund market is still very small compared with the total amount of RMB deposits of more than 100 trillion. The balance treasure and even the domestic monetary fund can only be the followers of the market interest rate, and can not "seriously interfere with the interest rate market".

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In the face of controversy, experts are confused, and ordinary viewers are at a loss as to what to do. P

Behind the controversy, there is no doubt that interest can not be separated: hundreds of billions of demand deposits continue to shift to the balance of treasure, which is depriving banks of the cheapest source of capital.

Since the end of 2, many banks such as ABC and ICBC have set restrictions on the pfer of savings cards to the balance of treasure in order to protect the safety of depositors' funds.

Almost at the same time, WeChat's financial management has also been affected by ICBC, CCB, Bank of China, CITIC, PUFA, Ping An and other banks' "pfer quotas".

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< p > < strong > catfish effect: the precursor of financial reform < /strong > /p >

< p > with the increasing loosening of < a href= "http://www.91se91.com/news/index_cj.asp" > capital < /a >, the myth of high income of balance treasure also begins "goddess landing".

In recent months, the yield of the balance treasure has fallen from nearly 7% of the high point to less than 5% today.

Nevertheless, the scale of the balance of treasure is still rising.

People who have opened the door to Internet finance have become increasingly aware that the balance of treasure itself should be located in a fragmented and long tail market. A low yield, highly mobile balance treasure is more in line with the essence of its monetary fund product.

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< p > in the eyes of many experts, the balance treasure has far more than a "financial artifact", but also a precursor to financial reform.

Under the stimulation of the balance of treasure, the Bank of Communications (market, inquiry), < /p >

< p > residents can indirectly share the high yield of money market by purchasing financial products such as balance treasure, which has played a strong role in promoting the marketization of the slow interest rate of deposits, which even far exceeded the value of the balance treasure as the monetary fund itself.

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Zhao Xijun, vice president of the school of Finance and finance, Renmin University of China, believes that because of the obvious advantages of Internet companies in < a href= "http://www.91se91.com/news/index_s.asp" > marketing < /a > channels, innovation ability, product flexibility and so on, its strong catfish effect will make the financial industry more dynamic. P

From this perspective, the changes brought by the balance treasure are far from over.

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