Yu'E Bao is a balance financial product launched by Alipay.

Transferring funds to Yu'e Bao is actually purchasing a currency fund called Yu'e Bao (formerly known as Zenglibao Monetary Fund) provided by Tianhong Fund, which can be transferred in, out or consumed at any time.

The funds transferred to Yu'E Bao can not only earn income, but can also be consumed and paid at any time, which is very flexible and convenient.

Let you make money and spend money at the same time.

It is precisely because of the emergence of Yu'ebao that it has expanded financial management channels for the public. Under the influence of Yu'ebao's strong fund gathering effect, major banks have launched Yu'ebao-like products to meet the challenges. For example, Ping An Bank launched "Ping An Ying",

China Minsheng Bank launched "Ruyi Bao", China CITIC Bank and Prudential Fund launched "Xinjin Pot", Industrial Bank launched "Industrial Bao" and "Treasurer Wallet", etc.

Most of these banking institutions are monetary funds that cooperate with banks and fund companies.

However, the emergence of the "Baobao" army has not affected Yu'e Bao's status as China's largest monetary fund.