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Yu'E Bao (Leftover Treasure), an Alibaba personal finance product, had 43.03 million users with aggregate deposits of 185.3 billion yuan ($30.4 billion) at the end of 2013. [Photo/icpress.cn] |
HANGZHOU - Yu'E Bao (Leftover Treasure), an Alibaba personal finance product, had 43.03 million users with aggregate deposits of 185.3 billion yuan ($30.4 billion) at the end of 2013.
Yu'E Bao is an online fund established by Alipay, China's largest third-party payment platform and subsidiary of Alibaba, part of China's biggest online shopping mall, together with the private Tianhong Fund.
"Investments" in the fund have brought 1.79 billion yuan in profits to users since its launch in June 13 this year, according to Alipay on Wednesday.
Yu'E Bao allows Alipay customers to invest any balance in thier accounts with the Tianhong Fund and has already become the largest fund of its kind in China.
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