Caixin OnlineFinance & EconomicsTop Stories Finance Zhejiang Alibaba Offers E-Investors Promissory Note Option
05.05.2014 16:30

Zhejiang Alibaba Offers E-Investors Promissory Note Option

Company behind Yu E Bao lets people buy notes at a discount from companies in need of cash, but experts warn risks may be understated
By staff reporter Wang Shenlu

(Beijing) – A type of wealth management product that allows investors to buy promissory notes from companies is in the spotlight after Zhejiang Alibaba E-commerce Co., a pioneer of Internet finance in the country, recently rolled out the service.

Zhaocaibao Financial Service Information Co., a wholly owned subsidiary of Zhejiang Alibaba, was established on April 3. It offers a series of wealth management products that most retail investors are not familiar with through Taobao.com, a shopping website owned by Alibaba Group Holding Ltd., a company linked to Zhejiang Alibaba.

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