P2P Online Finance Site Jimubox Unveils U.S. Stock Trading Product
Jimubox, 12/17/15
Beijing-based Lerong Duoyuan Information Technology, operator of online P2P financing website Jimubox, recently announced several new financial products, including a US stock trading product, as well as its intention to operate a comprehensive financial management platform under a new company strategy.
Jimubox's new Internet financial products are aimed towards fixed income financial management, stocks, funds, and retail financing, along with a comprehensive asset allocation consultation service called "Jinnang" ("Advice"). The platform also revealed a new business logo and a new website domain name, jimu.com.
Users with a Chinese national ID card and a mobile phone can register with Jimubox to open a U.S. stock trading account with no minimum balance. Jimu Gupiao (Jimubox Stocks) account holders can open U.S. stock trading accounts, get real-time quotes for U.S. stocks, and enter into USD-denominated transactions on the NYSE, NASDAQ, and AMEX exchanges. Jimubox charges a USD 1.99 minimum fee for each transaction. Over the next several months, Jimubox plans to add services for Hong Stock Exchange (HKEX) and other foreign market transactions and to enter the Chinese A Shares market.
Jimu Jijin ("Jimubox Funds") launched in September of this year and has quickly added more than 1,000 funding products from most mainstream investment fund companies. Jimubox Funds differs from other fund sales platforms in offering personalized buying guide services and smart allocation across multiple funds and one-click ordering to help users distribute risk.
Dumiao ("Countdown") is an unsecured, no-collateral individual small credit loan product based on big data. Credit applicants simply fill out a form with information regarding their credit card or account with Chinese third-party payment processor Alipay, along with their real name and phone number, and the system will automatically determine loan eligibility within approximately 15 minutes. According to Jimubox CEO Dong Jun, the total amount of loans issued through Dumiao has doubled every month for the past several months.
In addition to these products, Jimubox has launched a new comprehensive asset allocation consultation product called "Jinnang," which offers professional financial management advice. Users can purchase financial products on the Jimubox platform based on recommendations from Jinnang advisors.
Jimubox also used the press conference to demonstrate a new smart investment advisor system that it is currently developing. The system can help users to set investment goals based on their risk tolerance and financial situation. It offers global asset allocation proposals, enabling users to purchase multiple financial products by clicking a single button. The system can also help users to manage complex household assets.
In terms of fixed income products, Jimubox says that it has brokered more than RMB 11.5 bln in investments and financing to date.
Keywords: financial services Internet P2P Lerong Duoyuan Jimubox Dong Jun online lending
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