Yu'e Bao Net Deposits Exceed RMB 100 Bln

Shanghai Securities News, 11/15/13

According to data released by mutual fund management firm Tianhong Asset Management, the company's Yu'e Bao money market product, released in partnership with Chinese third-party payment processor Alipay, now holds net user deposits of more than RMB 100 bln (USD 16.287 bln), making it the first financial fund in China to claim such a figure. With more than 29 mln user accounts opened, it also boasts the largest number of accounts of any Chinese fund.

Yu'e Bao allows Alipay customers to move their excess payment account balances into Yu'e Bao to accrue interest.

Editor's Note: For more background on this topic, please see "Yu'e Bao User Deposits Exceed RMB 100 Bln" MD 10/28/13 issue.

Keywords: statistics users Internet Alipay third-party payment Tianhong Asset Management Yu'e Bao financial services

Feedback

Sending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily