--FILE--A Chinese mobile phone user looks at information of Weicaifu, the wealth management service of Sina, in Guangzhou city, south China's Guangdon
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Contributor:
Imaginechina Limited / Alamy Stock PhotoImage ID:
W8YMFKFile size:
57.1 MB (1.1 MB Compressed download)Releases:
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5472 x 3648 px | 46.3 x 30.9 cm | 18.2 x 12.2 inches | 300dpiDate taken:
1 August 2014Photographer:
ImaginechinaMore information:
--FILE--A Chinese mobile phone user looks at information of Weicaifu, the wealth management service of Sina, in Guangzhou city, south China's Guangdong province, 1 August 2014. Chinese Internet giant Sina Corp is expanding into the growing Internet finance industry with a special focus on young adults. Weicaifu.com, an online marketplace for wealth management products owned by Sina, saw fund sales reach 481 million yuan (US$78.5 million) in October, up 23 percent from a month earlier, Zheng Xinwei, product management director of the financial platform, told a media briefing yesterday (5 November 2014). Since its inception in April, total fund sales have amounted to 1.38 billion yuan. The average investor has assets of 18, 132 yuan. °With an investment cap of 5, 000 yuan in each product, our platform mainly targets young users who tend to be ignored by traditional financial institutions, ± Zheng said. The investment platform has lured a group of grass-roots investors born in the 1970s and 1980s, who make up 76 percent of its users. The average age of the platform¯s investors is 32.