China | Alibaba-affiliated money market fund racks up $93 billion in assets

Alibaba-affiliated money market fund racks up $93 billion in assets

March 27, 2015 2:35 PM (UTC+8)

 

TechinAsia reports that Ant Financial, Chinese e-commerce giant Alibaba’s affiliated financial arm, has disclosed that its Yu’ebao money market fund’s assets reached about $93 billion at the end of 2014, marking a 200% jump from 2013.  It also said that its number of users quadrupled from the previous year, hitting 185 million. Read more

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