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China Facts: Alternative deposits

 

 

Until recently, Chinese investors/savers faced two extreme options; bank account or the stock market. The biggest breakthrough was the launch of an online fund by Alibaba in 2013. This fund, Yu's Bao (or 'leftover treasure'), was promoted as a way for people to earn interest on the cash in their e-commerce accounts. Yu'e Bao attracted 185 m customers within 18 months, giving it 600 bn yuan of assets under management. In 2014 Tencent launced Licaiton, an on-line fund platform linked to WeChat. Within a year it had 100 bn yuan under management*) 

 

*) the Economist 25th March 2017

 

 

 

 

 

 

 

 

 

 

 

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Hans Henrik Pontoppidan
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