6 Internet Finance Tools in China

As China.org.cn reports,  Internet finance, led by different online money market fund products created separately by Alibaba and Tencent, has been the buzz of China's finance industry since 2013. The transition from traditional financial services to Internet-based alternatives became "a new norm" of the Chinese economy. 

Different types of online financial businesses have rapidly expanded over the past year. Experts say Internet finance companies can meet the demand from low-end clients for investment and financial management services by making innovations in financial services, marketing channels and business models. This may help to alleviate the difficulties faced by small businesses as they try to obtain loans and reduce their financing costs.

According to China Internet finance report (2014) released by Financial World and the Internet Society of China in Aug 2014, there are mainly six types of financial businesses related to Internet finance in China: peer-to-peer (also known as P2P) lending, crowdfunding, Internet payment, Internet funds, Internet insurance and e-commerce micro credit.
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