Tencent licenced to sell mutual funds to WeChat’s 1 billion users in China

“China’s market for reliable wealth management products is expected to explode in coming years, through the sales of funds and banking products, and traditional finance houses are now being seriously challenged in the market by emerging internet financial companies.  Tencent has already teamed up with Howbuy, an online distributor of mutual funds, and a number of fund houses to line up nearly 100 mutual funds products via WeChat.”

Read more: http://www.scmp.com/business/companies/article/2126876/tencent-granted-licence-sell-mutual-funds

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