Alibaba’s four-year-old Yu’e Bao surpassed JPMorgan’s US government money market fund tobecome the world’s largest, according to the Financial Times.

据美国《金融时报》报道，阿里巴巴旗下设立四年的余额宝超越了摩根大通美国政府货币市场基金，成为全球最大的货币市场基金。

With $165,6 billion under management, the Yu’e Bao fund has grown rapidly, reflecting the increasing importance and irreplaceable role of technology and e-commerce in China.

余额宝基金发展迅猛，现融资1.656万亿美元，这反映了科技和电子商业在中国日益重要和不可替代的作用。

The payments affiliate¹ company of Alibaba, Ant Financial Services Group found that a great deal of cash remains² in customers’ accounts, which could be used for a fund. The Yu’e Bao fund was therefore born in 2013 and swept the money in those accounts into it.

阿里巴巴旗下的蚂蚁金服公司发现用户存入支付宝账户的现金可以用作基金使用。于是于2013年创立余额宝基金，将客户存款作为基金使用。

Due to Yu’e Bao’s expansion, Tianhong Fund Management, the co-founder of Yu’e Bao has become the first fund company to break one trillion yuan (about $145 billion).

余额宝规模不断壮大，余额宝创始合伙人天弘基金也由此成为了首个突破1万亿元人民币(约合1450亿美元)的基金公司。

Moreover, Yu'e Bao's custodian³ bank CITIC Bank has also become the largest fund custody⁴ institution.

此外，余额宝托管行中信银行也成为了最大的基金保管机构。

An analyst⁵ at Tianhong Fund Management said that their company gives top priority to the liquidity⁶ of capital flows, but they also take every measure to balance the yield rate, liquidity and financial risks.

一位来自天弘基金的分析者称，他们的公司最注重资金的流动性，但是他们会采取一切办法来平衡收益率、资金流动性和金融风险。

“Yu’e Bao’s large scale of capital brings challenge for investment, research and risk management,” said Wang Dengfeng, a fund manager of Yu’e Bao.

“余额宝资金数额庞大，对投资、研究和风险管理都带来了挑战，”余额宝基金经理王登封如是说。

“On one hand, the fund holders⁷ have diverse demands, on the other hand, huge assets bring bigger pressure.” — Xinhua.

新华网报道，“一方面，基金持有者需求各异，另一方面，巨额资金带来巨大压力。”