Comment on Tech in China 2013: High Hopes of Disrupting Domestic Financial Market by Personal Finance Apps Boom in China - TechNode

['Tracey Xiang', 'More Tracey Xiang', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img', 'Height Auto Max-Width', 'Vertical-Align Bottom .Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow .Wp-Block-Co-Authors-Plus-Avatar'] Comments for TechNode 2014-01-03 00:00:00

Yuebao, launched in mid-2013, is a mutual fund tailored to Alipay users. 43.03 million Alipay users adopted it in half a year since its launch. But in 2013 it was obvious that people placed high hopes on Internet-based financial services, seeing them to materially change the financial market in China. Baidu, Sina and Netease, by partnering with mutual fund companies, now are selling a variety of mutual funds on their platforms. 17 mutual fund companies (THFund isn’t included) set up Taobao stores on November 1st, 2013.