On Friday, the 7-day annualized yield of Yu ‘E Bao was 1.18%. On May 29, before the Dragon Boat Festival, it even dropped to 1.165%, hitting a record low since its establishment (May 30, 2013).

A simple look at the latest yields of the top 15 money fund products in the current market size shows that they have generally dropped by 30 to 50 basis points compared to a year ago.