Taobao Opens E-commerce Funds Platform in China - Information portal

Taobao Opens E-commerce Funds Platform in China

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08.11.2013 Количество просмотров 571 views
TaobaoChinese e-commerce Alibaba has started funds sales on its online shopping platform Taobao.

Taobao, China's online retail platform, received a no-action letter from the China Securities Regulatory Commission last week for its funds business, according to the Alibaba Group. Alipay, also run by Alibaba, will provide third-party payment services for the online funds sales.

Those aged 18 or above can buy funds after passing the real name authentication on the Alipay online payment service. These funds shops will provide a one-stop service for buyers to open accounts, place and pay for orders, as well as manage their fund accounts.

Beside these risk notifications, Taobao has also set order amount limits of USD 328.20 (CNY 2000) for each equity fund, including stock funds, hybrid funds, QDII funds and index funds.

In recent news, Taobao, has opened an office in Singapore to serve as the company's Southeast Asia hub, supporting its customers and presence in this region.
Source:  The Paypers


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