Baidu receives third-party fund payment license

Friday 4 April 2014 10:37 CET | News

China-based search engine provider Baidu has received a third-party fund payment license from regulators, which will enable the expansion of its share in the booming online personal wealth management market in China.

Baidu will initially have Huawei Securities, Guangfa Securities, Harvest Fund and Fullgoal Fund as fund partners.

Baidu provides a range of services including a Chinese language search engine for websites, audio files and images. The company offers 57 search and community services including Baidu Baike, an online collaboratively-built encyclopedia and a searchable keyword-based discussion forum.

In March 2014, Baidu has formed a partnership with Chinese internet companies Tencent and Alibaba, to apply for a private banking license.

Check out our Cross-border Ecommerce Research section here for more info on specific ecommerce facts & figures, preferred payment methods, risk and fraud, as well as ecommerce legislation & regulation in China.

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Keywords: Baidu, China, payment, license, ecommerce
Categories: Payments & Commerce
Countries: World
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