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recent monetary policy easing by the government caused a drop in the 7-day annualized return rate offered by a number of China's online monetary funds Jimmy Howard Red Wings Jersey , experts said Wednesday.


According to a report put together by domestic finance service website RONG360 on its official website on Tuesday, out of the 68 online funds monitored by the website, only 10 had a 7-day annualized return rate of more than 5 percent, and 6 funds had a 7-day return rate of lower than 3 percent.


Most of these online monetary funds have seen their 7-day return rate drop in recent months. Yu'ebao, one of China's largest monetary funds co-launched by Alipay under domestic e-commerce giant Alibaba Group and Tianhong Asset Management Co (Tianhong), saw its 7-day return fall from around 4.6 percent at the beginning of January Tomas Tatar Red Wings Jersey , to 3.46 percent on Wednesday.


Caifubao, a monetary fund jointly operated by Internet giant Tencent Inc and China Asset Management Co, offered a 7-day return at 3.01 percent on Wednesday, compared to around 5.5 percent at the beginning of June.


The monetary fund named "Jindongxiaojinku", which is operated by e-commerce company Beijing Jingdong Century Trade Co together with two fund firms, saw its 7-day return fall to 2.74 percent Wednesday Gustav Nyquist Red Wings Jersey , down from around 7.0 percent at the start of May.


Another two online monetary funds Baidubaizhuan and Fuqianbao also saw their 7-day return fall to around 3 percent at the end of June, down from 4.2 percent and 5.1 percent respectively on April 1.


Xi Junyang, a professor with the Department of Finance at the Shanghai University of Finance and Economics, said that the majority of the money collected by online fund products like Yu'ebao is loaned to banks, mostly on a short-term basis, and at a relatively high interest rate.


"Online funds' return rate Justin Abdelkader Red Wings Jersey , which grows in proportion to the interest rate of their loans to the banks, is closely related with the liquidity in the markets. When banks are short of money amid tight liquidity, online monetary funds have relatively higher returns. Loose liquidity, on the contrary, would lower banks' needs for capital provided by monetary funds, and that would in turn lead to lower returns Nick Jensen Red Wings Jersey ," Xi said.


Li Jing, who worked as senior account manager at China CITIC Bank