WeChat to manage wealth
<p><span word="Download">Download</span></p><p><span word="Tencent">Tencent</span> <span word="Holdings">Holdings</span> <span word="pushed">pushed</span> <span word="into">into</span> <span word="the">the</span> <span word="nation">nation</span>'<span word="s">s</span> <span word="booming">booming</span> <span word="online">online</span> <span word="financial">financial</span> <span word="services">services</span> <span word="sector">sector</span> <span word="on">on</span> <span word="Thursday">Thursday</span> <span word="as">as</span> <span word="it">it</span> <span word="announced">announced</span> <span word="plans">plans</span> <span word="to">to</span> <span word="launch">launch</span> <span word="a">a</span> <span word="wealth">wealth</span> <span word="management">management</span> <span word="service">service</span> <span word="on">on</span> <span word="its">its</span> <span word="dominant">dominant</span> <span word="mobile">mobile</span> <span word="messaging">messaging</span> <span word="app">app</span> <span word="WeChat">WeChat</span>.</p><p><span word="The">The</span> <span word="service">service</span>, <span word="called">called</span> <span word="Licaitong">Licaitong</span>, <span word="was">was</span> <span word="jointly">jointly</span> <span word="developed">developed</span> <span word="by">by</span> <span word="Tencent">Tencent</span> <span word="and">and</span> <span word="four">four</span> <span word="fund">fund</span> <span word="companies">companies</span>, <span word="including">including</span> <span word="China">China</span> <span word="Asset">Asset</span> <span word="Management">Management</span> <span word="Co">Co</span> <span word="and">and</span> <span word="GF">GF</span> <span word="Fund">Fund</span> <span word="Management">Management</span> <span word="Co">Co</span>.</p><p><span word="The">The</span> <span word="service">service</span>, <span word="with">with</span> <span word="a">a</span> <span word="minimum">minimum</span> <span word="investment">investment</span> <span word="of">of</span> <span word="just">just</span> 0.01 <span word="yuan">yuan</span>, <span word="will">will</span> <span word="enable">enable</span> <span word="WeChat">WeChat</span> <span word="users">users</span> <span word="to">to</span> <span word="buy">buy</span> <span word="and">and</span> <span word="sell">sell</span> <span word="money">money</span> <span word="market">market</span> <span word="funds">funds</span> <span word="via">via</span> <span word="mobile">mobile</span> <span word="devices">devices</span> <span word="and">and</span> <span word="get">get</span> <span word="higher">higher</span> <span word="interest">interest</span> <span word="rates">rates</span> <span word="than">than</span> <span word="typical">typical</span> <span word="banking">banking</span> <span word="deposits">deposits</span>.</p><p><span word="Tencent">Tencent</span>, <span word="China">China</span>'<span word="s">s</span> <span word="largest">largest</span> <span word="Internet">Internet</span> <span word="company">company</span> <span word="by">by</span> <span word="revenue">revenue</span>, <span word="didn">didn</span>'<span word="t">t</span> <span word="reveal">reveal</span> <span word="when">when</span> <span word="the">the</span> <span word="service">service</span> <span word="will">will</span> <span word="be">be</span> <span word="officially">officially</span> <span word="launched">launched</span> <span word="and">and</span> <span word="open">open</span> <span word="to">to</span> <span word="all">all</span> <span word="WeChat">WeChat</span> <span word="users">users</span>.</p><p><span word="It">It</span> <span word="did">did</span>, <span word="however">however</span>, <span word="say">say</span> <span word="that">that</span> <span word="its">its</span> <span word="cooperation">cooperation</span> <span word="with">with</span> <span word="the">the</span> <span word="four">four</span> <span word="fund">fund</span> <span word="companies">companies</span> <span word="isn">isn</span>'<span word="t">t</span> <span word="exclusive">exclusive</span> <span word="and">and</span> <span word="it">it</span> <span word="seeks">seeks</span> <span word="to">to</span> <span word="cooperate">cooperate</span> <span word="with">with</span> <span word="more">more</span> <span word="fund">fund</span> <span word="companies">companies</span>.</p><p><span word="Sources">Sources</span> <span word="said">said</span> <span word="Tencent">Tencent</span> <span word="has">has</span> <span word="been">been</span> <span word="working">working</span> <span word="on">on</span> <span word="the">the</span> <span word="service">service</span> <span word="for">for</span> <span word="months">months</span> <span word="after">after</span> <span word="its">its</span> <span word="archrival">archrival</span>, <span word="Alibaba">Alibaba</span> <span word="Group">Group</span> <span word="Holding">Holding</span>, <span word="introduced">introduced</span> <span word="Yu">Yu</span>'<span word="E">E</span> <span word="Bao">Bao</span>, <span word="an">an</span> <span word="investment">investment</span> <span word="service">service</span>, <span word="in">in</span> <span word="June">June</span> 2013 <span word="through">through</span> <span word="its">its</span> <span word="e">e</span>-<span word="payment">payment</span> <span word="affiliate">affiliate</span> <span word="Alipay">Alipay</span>.</p><p><span word="The">The</span> <span word="tremendous">tremendous</span> <span word="popularity">popularity</span> <span word="of">of</span> <span word="Yu">Yu</span>'<span word="E">E</span> <span word="Bao">Bao</span>, <span word="which">which</span> <span word="reported">reported</span> <span word="more">more</span> <span word="than">than</span> 250 <span word="billion">billion</span> <span word="yuan">yuan</span> <span word="under">under</span> <span word="management">management</span> <span word="and">and</span> 49 <span word="million">million</span> <span word="users">users</span> <span word="as">as</span> <span word="of">of</span> <span word="Wednesday">Wednesday</span>, <span word="has">has</span> <span word="prompted">prompted</span> <span word="many">many</span> <span word="Internet">Internet</span> <span word="companies">companies</span> <span word="and">and</span> <span word="fund">fund</span> <span word="managers">managers</span> <span word="to">to</span> <span word="follow">follow</span> <span word="in">in</span> <span word="its">its</span> <span word="path">path</span>.</p><p><span word="Baidu">Baidu</span> <span word="Inc">Inc</span>, <span word="China">China</span>'<span word="s">s</span> <span word="leading">leading</span> <span word="search">search</span> <span word="engine">engine</span>, <span word="joined">joined</span> <span word="forces">forces</span> <span word="with">with</span> <span word="China">China</span> <span word="Asset">Asset</span> <span word="Management">Management</span> <span word="Co">Co</span> <span word="in">in</span> <span word="October">October</span> <span word="to">to</span> <span word="launch">launch</span> <span word="its">its</span> <span word="first">first</span> <span word="wealth">wealth</span> <span word="management">management</span> <span word="product">product</span>, <span word="known">known</span> <span word="as">as</span> <span word="Baifa">Baifa</span>.</p>
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