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Internet finance boom draws Greenland
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GREENLAND Hong Kong Holdings Ltd, the overseas capital platform of China’s state-backed real estate developer Greenland Group, set up its Internet finance subsidiary yesterday.
In the next three years, Greenland Financial Services, which will mainly tap real estate-related Internet financing, aims to attract over 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 and executive vice president of Greenland Hong Kong. “Greenland Financial Services will provide financing and investment platforms that will be open to both individual and institutional investors.”
The financial subsidiary also said yesterday that it will cooperate strategically with Lufax, an online financial asset trading platform linked to Ping An Insurance (Group) Co, as well as Zhong An Online Property and Casualty Insurance Co and China Orient Asset Management (International) Holding Ltd to jointly seek innovative business in the rapidly growing Chinese Internet finance industry.
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