Your location:Tech News>OS>Windows XP>Yu'ebao 'purchase restriction order' has not been lifted after the expiry date

Latest News

Yu'ebao 'purchase restriction order' has not been lifted after the expiry date



Yuebao's purchase limit has passed the previously announced purchase limit for one week but still has not open. On March 22 the Yu'e Bao purchase page still displayed a reminder that 'the quota has been used up today and the sale will start at 09:00 tomorrow.' The official response stated that there is still a need to continue to limit the total daily purchases of Yu'e Bao.

According to the announcement issued by the Yu'ebao manager Tianhong Fund on January 31 the Yu'ebao daily will be set up from February 1st The total subscription amount will be lifted after March 15. However there is still a 'ceiling' for the daily purchase limit. In this regard Ant Financial told the Beijing Commercial Daily that after negotiation with Tianhong Fund Company in order to maintain the steady operation of the Yu'e Bao Money Market Fund it is still necessary to continue to limit the balance temporarily. The total daily purchase amount of Bao the specific recovery time is subject to the prompt on the page of Yu'e Bao.

How much is the actual daily purchase quota set? Neither Tianhong Fund nor Ant Financial has disclosed it. During the 50 days of purchase restriction from February 1st to March 22nd complaints were increasing. Many users said that 'from hundreds of thousands of purchases at any time to now they can't buy a penny' 'one tea egg per day' Little luck is gone'. A reporter from Beijing Commercial Daily also tried to subscribe before 10 o'clock in the morning many times but failed to grab the quota.

This is not a good thing for Yu'e Bao which is widely welcomed because of its convenience. He Qiang a member of the National Committee of the Chinese People's Political Consultative Conference said recently 'Yuebao's quota will be used up before 9:30 which is not convenient for customers. Some blocking policies are effective in the short term but blocking policies cannot be used in the long run.' The 'blocking policy' mentioned by He Qiang was introduced by some market participants into a new policy at the beginning of the year of the central bank which included monetary funds such as Yu'ebao into the broad money (M2) statistical caliber and analyzed that monetary funds may begin to shoulder the burden. Currency functions. However upstream financial expert consultant Jiang Han told a reporter from Beijing Business Daily that the extension of the daily purchase limit should not have much to do with the monetary fund's inclusion in M2.

'Yuebao has taken several restrictions on the purchase limit. This time the measures should be more effective so Yu'ebao may plan Maintain policy stability and continue to adopt the same measures to restrict purchases.' Jiang Han said. Since May 2017 Yu'ebao has lowered its purchase and holding quota three times and the personal account holding quota has been reduced from a maximum of 1 million to 1000 and a single-day purchase limit has also been set at 20000 yuan.

On January 31 Tianhong Fund stated that the total daily subscription amount of Yu'e Bao was set to prevent Yu'e Bao money market funds from Excessive growth in scale and long-term stable operation. Data show that since its launch in June 2013 Yu'ebao has reached nearly 1.6 trillion yuan in total assets in just a few years.

Such a 'phenomenal' product has undoubtedly attracted regulatory attention. Although the extension of the daily purchase limit of Yu'ebao is not directly related to the inclusion of currency funds in the M2 caliber Jiang Han believes that strict supervision of currency funds this year is an inevitable trend. my country is already a major currency fund country plus 2017 The main regulatory strategy has been formulated. In 2018 we must truly 'make a decision.' Therefore the supervision will continue to be strict also in order to maintain the bottom line of no financial risks. (Beijing Business Daily Cheng Weimiao)

?Yu'e Bao starts today to limit the total amount of single-day purchases and claims that its scale has increased too much-teller report

Recommend article

Relate article