Greenland taps Internet financing sector

By Cherry Cao | May 27, 2015, Wednesday |

Online Edition

GREENLAND Hong Kong Holdings Limited, the overseas capital platform of China's state-backed real estate developer Greenland Group, established its Internet finance subsidiary today as the company made its official foray into the burgeoning industry.

In the next three years, Greenland Financial Services, which will mainly tap real estate-related Internet financing, aims to attract more than 3 million registered users with transaction value exceeding 100 billion yuan (US$16 billion), according to senior executives of Greenland.

"The official launching of Greenland Financial Services marks a significant endeavor that Greenland Hong Kong has made amid the group's long-term strategy to further grow its finance division," said Jack Yang, president of Greenland Financial Services, ho is also the executive vice president of Greenland Hong Kong. "Greenland Financial Services will provide a couple of financing and investment platforms that will be open to both individual and institutional investors."

Greenland Financial Services also announced today several strategic partnerships. It will cooperate with Lufax, an online financial asset trading platform linked to Ping An Insurance (Group) Co, Zhong An Online Property and Casualty Insurance Co and China Orient Asset Management (International) Holding Ltd in various fields including branding and products in a joint effort to seek innovative business models in the country's rapidly growing Internet finance industry.

Shanghai-headquartered Greenland Group registered a record contract property sales of 240.8 billion yuan, or 21.15 million square meters, in 2014.

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Greenland taps Internet financing sector

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