Money Market Funds Now A Big Threat To Chinese Banks: UBS

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HFA Staff
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A recent report on Chinese Banking by UBS analysts Irene Huang, Michelle Li and Stephen Andrews highlights the emergence of Money Market Funds (MMFs) in China and says these funds could usher in a wave of disintermediation in the Chinese banking industry within the next two years. Money market funds: The digital challenge In June this year, China’s biggest e-commerce company, Alibaba Group Ltd, announced that its third-party payment platform, Alipay, also the biggest in the country, would launch Yu E Bao, a dedicated fund management platform. Alipay provides payment solutions to 460,000 merchants and boasts 800 million registered accounts,…

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