ChinaPnR to invest or buy finance firms
Print Edition
CHINAPNR will invest or acquire online finance companies this year to expand in the booming personal wealth management market worth about 5 trillion yuan (US$805 billion) annually in China, the Shanghai-based company said yesterday.
ChinaPnR, which focuses on online payment business, generated online finance transactions valued at 50 billion yuan in 2014.
The company also said yesterday that it would tie up with trust firms and exchanges to target wealthy investors with investment budget between 50,000 yuan and 500,000 yuan.
“China’s personal wealth management market has its spring thanks to the booming capital and awareness of wealth management in China,” said Liu Gang, ChinaPnR’s vice president.
The company also spoke of cooperating with several firms, including Debon Capital and Tianjin Equity Exchange, to offer consumers an online finance platform that includes bond, trust, insurance and customized products.
The platform, which targets consumers in second and third-tier cities, offers an expected annual return of 8-12 percent, higher than products from other Internet giants like Alibaba and Tencent.
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