The financial times: alibaba China financial shake

in June of this year, alibaba launched new fund service, called “balance” shake ecological had closed the bank of China. ‘s protection of China’s financial market, thus likely to shake?

“bank of China’s financial industry, especially, to service as much as 20% of the customers, I don’t see the other 80% is service enterprise.” Date, alibaba founder jack ma told People’s Daily in an interview this sentence.

jack ma to respond to financial imagination, has 500 million users in alibaba, clearly see the ambitions:

in 2003, alibaba launched a third-party online payment platform “alipay”; In 2010, according to taobao provide microfinance operations; In June 2013, to be a partner with fund companies “balance”, let consumers can direct investment financial products on the Internet.

a company doing e-commerce started, just a few short years, gradually increase the financial services. The ft (Financial Times) analysis, the action of alibaba, are threatening China’s Banks.

in the face of alibaba menacing attack, peers, and even Banks are not to be outdone, have launched a new service. The financial times, sort out the following 4 dah sing services, these dynamic, is likely to shake the Chinese financial market:

1, WeChat launched online fund market

it’s most popular instant messaging applications – WeChat, in August, the cooperation with China asset management company, introduced a similar balance of alibaba treasure of service: allows users to directly invest in money market funds on the Internet. According to people familiar with the matter, tencent is still in negotiation with the Great Wall securities cooperation.

2, brick-and-mortar retailers counter-offensive online shopping platform

suning appliances is China’s leading electronics retailer, but they are trying to transform into online shopping platform, only alibaba dominance of online trading market. This month, suning appliance formally announced across the full financial products, also has been submitted to the relevant units to apply for business banking documents.

3, investment Banks “e-commerce”

in the face of alibaba’s invasion, Chinese Banks are also beginning to counterattack e-commerce market. China construction bank and bank of communications has launched an online shopping mall and other large financial firms began to look for a similar investment opportunities, battlefield offensive online business together.

4, the bank launched the “wealth management” service

in the past, consumers can save money in the bank, interest rates low and fixed, today, China’s Banks started to offer returns the pursuit of higher rates of wealth management services. Wealth management products in the investment process is simple, people could easily investment on networks. Banks may be sent via SMS commodity information to clients, and customers can also through the website or mobile application, easy to order and the remittance. The financial times, analysts believe that the service will bring huge impact to China’s banking sector and change.