Core Insights - As of October 30, there are a total of 5,722 public cash management products from wealth management companies in China [1] - The average annualized yield over the past six months for RMB cash management products is 1.378%, with only 16 products exceeding 2% [6] - The average annualized yield for USD cash management products is 3.879%, although this has been declining due to recent interest rate cuts by the Federal Reserve [5][6] RMB Cash Management Products - There are 5,691 RMB cash management products currently in existence [6] - The top five performing institutions in terms of average annualized yield over the past six months are: - Beiyin Wealth Management: 1.697% - Suyin Wealth Management: 1.667% - Yunan Rural Commercial Bank Wealth Management: 1.648% - Hengfeng Wealth Management: 1.613% - Nanyin Wealth Management: 1.606% [6] USD Cash Management Products - There are currently 30 USD cash management products, with only one product, "Bank of China Wealth Management - QDII Daily Plan (USD Version) U," yielding over 4% [5][6] - The average annualized yield for USD cash management products has been affected by the Federal Reserve's interest rate cuts, leading to a downward trend in overall yields [5] Top Performing Products - The top three RMB cash management products based on average annualized yield over the past six months are: - "Suyin Cash 4 No. N": 2.922% - "Suyin Currency 3 No. G": 2.875% - "Beiyin Wealth Management - Jinghua Vision Spring Series Easy Gold 3 No. A": 2.103% [6]

Core Insights - The report highlights the performance of cash management public financial products from various financial institutions over the past six months, indicating a competitive landscape in the cash management sector [1][5]. Group 1: Performance Metrics - As of October 30, 2025, there are a total of 5,722 public cash management products in existence, with an average annualized yield of 1.378% for RMB cash products [5]. - Among the RMB cash products, only 16 have an average annualized yield exceeding 2%, while 11 products yield below 1% [5]. - The top five performing institutions in terms of average annualized yield are Beiyin Wealth Management (1.697%), Suyin Wealth Management (1.667%), Yunan Rural Commercial Bank Wealth Management (1.648%), Hengfeng Wealth Management (1.613%), and Nanyin Wealth Management (1.606%) [5]. Group 2: Top Products - The top three cash management products based on average annualized yield over the past six months are: 1. Suyin Wealth Management's "Qiyuan Cash No. 4 N" at 2.922% 2. Suyin Wealth Management's "Qiyuan Currency No. 3 G" at 2.875% 3. Beiyin Wealth Management's "Jinghua Yuanspring Series Yitaojin No. 3" at 2.103% [6]. - Only five products in the current ranking have an average annualized yield above 2% [6]. Group 3: USD Cash Products - There are currently 30 USD cash products, with an average annualized yield of 3.879% over the past six months [5]. - The only USD cash product yielding over 4% is "Bank of China Wealth Management - QDII Daily Plan (USD Version) U," with an average annualized yield of 4.003% [5].

Overall Performance - As of September 4, the average seven-day annualized yield for RMB public cash management products was 1.447%, while for USD cash products it was 3.942% [5] - There are a total of 4,922 RMB public cash management products, with only 55 products (1.1%) yielding over 2% in the last six months [5] - 1,561 products (31.7%) had yields between 1.5% and 2%, while three products yielded below 1% [5] Highlighted Product Analysis - The top three products in terms of average seven-day annualized yield over the last six months are "启源现金5号1" and "启源货币2号(ESG主题)F" from 苏银理财, and "现金管理类理财产品83号 D" from 华夏理财, with yields of 2.897% and 2.809% respectively [6] - "启源货币2号(ESG主题)" focused on low-risk assets such as bank deposits and repos, while effectively maintaining static returns through strategic asset allocation [6] - 华夏理财's "现金管理类理财产品83号" utilized leverage strategies to enhance returns during a period of high bond yields and maintained liquidity through a mix of cash and high-quality bonds [6]

Overall Performance - The average seven-day annualized yield of RMB public cash management products is 1.447% as of September 4, 2025, while USD cash products have an average yield of 3.942% [5] - There are a total of 4,922 RMB public cash management products, with only 55 products (1.1%) yielding over 2% in the past six months [5] - 1,561 products (31.7%) fall within the yield range of 1.5% to 2%, while three products yield below 1% [5] Highlighted Product Analysis - The top three products in terms of average seven-day annualized yield over the past six months are "Qiyuan Cash No. 5 J" and "Qiyuan Currency No. 2 (ESG Theme) F" from Su Yin Wealth Management, and "Cash Management Product No. 83 D" from Huaxia Wealth Management, with yields of 2.897% and 2.809% respectively [6] - "Qiyuan Currency No. 2 (ESG Theme)" focuses on low-risk assets such as bank deposits and repos, utilizing moderate leverage and a tiered strategy to maintain static returns amid declining market interest rates [6] - Huaxia Wealth Management's "Cash Management Product No. 83 D" capitalizes on high bond yields and employs leverage strategies while maintaining liquidity through cash and easily convertible assets [6]