|
| VIEW EVENT INFORMATION: Tencent |
|
 |
China’s First Private Online Bank |
|
|
|
|
|
|
About the organization Tencent:
Type: Business
Sub-Types: Website, E-Commerce, Online Gaming, Online News, Advertising Agent, Social Networking Agent, Computer Software, Computer |
|
Notable Organizations: Techcrunch, Tencent
|
|
| Tencent, one of the top Internet companies in China, launched the country’s first private online bank today. Called WeBank after Tencent’s popular messaging app WeChat, the financial institution is the first one in China to be based on the Internet.
Tencent and rival Alibaba were among ten private investors that were approved by the Chinese government last year to launch five private banks. The goal of the pilot program is to make credit more available to small businesses, which are often at a disadvantage when it comes to securing loans from state-owned banks despite being integral to China’s economic development. |
|
|
| Leave Comments: |
|
|
|
|
|
