人民币现金理财收益持续走低，年末再掀“降费潮”

Core Insights - The report highlights the performance of cash management public financial products over the past three months, indicating a decline in yields for RMB-denominated products while USD-denominated products maintain higher returns [5][6]. Group 1: Performance Overview - As of December 18, 2025, there are 7,156 cash management public financial products, with 7,119 in RMB, 36 in USD, and 1 in AUD [5]. - The average seven-day annualized yield for RMB cash management products is 1.301%, with 26 products exceeding 2% and 108 products below 1% [5]. - In contrast, USD cash management products have an average yield of 3.653% over the same period [5]. Group 2: Top Performing Products - The top-performing product is "启源现金4号N" from 苏银理财, with a seven-day annualized yield of 2.948% [6]. - "启源货币7号B" from 苏银理财 follows with a yield of 2.858% [6]. - Other notable products include 中邮理财's "邮鸿宝41号人民币理财产品A" with a yield of 2.465% and 华夏理财's "现金管理类型财产品42号A" with a yield of 2.247% [2][6]. Group 3: Fee Adjustments and Market Trends - Since October 2025, several financial companies, including 中银理财 and 招银理财, have announced fee reductions to attract investors, with some products lowering management fees to as low as 0.01% [6]. - The top product, "启源现金4号N," has reduced its sales service and investment management fees to 0.10% per year [6]. - The trend of fee reductions is noted as a response to low interest rates and regulatory pressures, leading to a "fee reduction wave" in the market [6].