Business / Economy

Yuebao system update crashes users' account pages

By XIE YU ( Updated: 2014-02-16 14:39

Yuebao, an e-commerce platform that offers investment products, was unable to provide Tuesday's yield results on mobile applications on Wednesday morning.

The company said it was caused by a system update and that actual yields and cash out would not be affected.

Users can check various mobile applications to view the results of their Yuebao investments for the previous day. But users, in checking their Yuebao investments, saw that their accounts had "currently no yields" on Wednesday morning.

Web portal quoted a source from Yuebao saying the error was caused by a system update that includes no new functions or alterations.

Within six months, Yuebao, the partnership between China's Alibaba and fund house Tianhong Asset Management, has raised 250 billion yuan ($40.9 billion) from millions of users to invest in money market funds and treasury bonds.

Hot Topics

Editor's Picks