Alibaba's 'Leftover Treasure' hits 43m users
(Xinhua) Updated: 2014-01-02 14:26
|
 |
|
Yu'E Bao (Leftover Treasure), an Alibaba personal finance product, had 43.03 million users with aggregate deposits of 185.3 billion yuan ($30.4 billion) at the end of 2013. [Photo/icpress.cn] |
HANGZHOU - Yu'E Bao (Leftover Treasure), an Alibaba personal finance product, had 43.03 million users with aggregate deposits of 185.3 billion yuan ($30.4 billion) at the end of 2013.
Yu'E Bao is an online fund established by Alipay, China's largest third-party payment platform and subsidiary of Alibaba, part of China's biggest online shopping mall, together with the private Tianhong Fund.
"Investments" in the fund have brought 1.79 billion yuan in profits to users since its launch in June 13 this year, according to Alipay on Wednesday.
Yu'E Bao allows Alipay customers to invest any balance in thier accounts with the Tianhong Fund and has already become the largest fund of its kind in China.
- NHTSA says finds no 'defect trend' in Tesla Model S sedans
- WTO rare earth ruling is unfair
- Amway says 2014 China sales may grow 8%
- President Xi in Europe: Forging deals, boosting business
- CNOOC releases 2013 sustainability report
- Local production by Chery Jaguar Land Rover this year
- Car lovers test their need for speed in BMW Mission 3
- China stocks close mixed Monday
