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In episode 73 of Tech Buzz China, co-hosts Rui Ma and Ying Lu return to the typical deep-dive format you’ve come to expect, with a timely look into recently listed real estate tech platform Beike 贝壳, or KE Holdings (BEKE). But if it’s not, and it’s actually going to help them instead of hurt them when they use Huabei responsibly, which would be my guess, then they’ll probably welcome it. Looking back, we can see that Ant has achieved that — and more. Here, users can find 3500 funds to invest in, representing 170 different partner asset managers. We are a part of the Sinica Podcast Network, created by SupChina! So there you go. Get the latest news about Alibaba Group, the digital economy, e-commerce and tech innovation. ), are the Chinese answer to Charles Schwab, they together serve for more than 600 million users with a more than 17% YoY AUM growth per active user while Charles Schwab, America's largest personal financial services provider, has 11.7 million active accounts. Episode 72 of Tech Buzz China features product expert Eugene Wei in conversation with our co-host Rui Ma on the timely topic of TikTok and the mechanics of what makes the app so successful. And anyway, we are talking here about the biggest IPO not just on the HKSE, or STAR, but of all time. These firms stepped in this void and brought a great revolution to traditional China’s financial market. A company that made $18mm in profit every day the first half of this year and grew 38% year-on-year, in the middle of covid? Ant’s Sesame Credit, along with 7 other credit companies, including ones from Tencent and Ping’an, joined forces to make another credit system in 2018 at the behest of the government. You see, there is a cost to using Jiebei. [24:35]You might be rolling your eyes now thinking: that’s so China, but actually, hear us out, it makes a lot of sense. Mobile payments constitute one of several key markets for China’s booming fintech industry. So this isn’t an insurance product but kinda complements whatever other insurance you might already have. The managers are China Merchants, China Southern, Guangfa, Harvest, ICBC Credit Suisse and Tianhong. In next week's article, we will continue on the Ant Financial topic to further illustrate its business ecology based on different technologies and capabilities, how it differentiates itself from its competitors domestically and globally in the future. I think the 674-page preliminary prospectus gives us way enough to work with. I’d say that’s a positive indicator, but it also shows us how much government policy can affect this business. And as always, we are still looking for more reviews on Apple Podcasts! It’s not allowed, of course, but that hasn’t stopped people from doing it. An Ant Fortune spokesperson declined to comment when asked about the marketing costs of using the platform. The Chinese public's interest in online investing was raised by the success in 2013 of Yu’eBao, Alibaba's money-market fund. And what is all the rest of Ant? Originated from Alipay, Ant Financial is now a technology company that brings inclusive financial services to the world. You pay a monthly fee into a giant pool of money along with other people, and if you get one of 100 pre-agreed critical illnesses — mostly cancers — you can submit a claim to Ant, and if approved, you get paid a one-time payment of up to $43,000. Federated Hermes adds Asia, Australia/New Zealand sales heads; Eastspring, Nomura AM, Aberdeen name new Taiwan chiefs; Peak Re hires first chief economist; CBRE names HK investment property head; Campbell Lutyens appoints senior adviser in Singapore; and more. It was pretty inconvenient. [46:12]And while there is more to talk about when it comes to Ant, we are going to have to stop here because any more context, and this episode is going to run into triple digits too! That happened in 2011. Remember that Huabei is about 9% annualized, and Jiebei can be as much as double that. And Jiebei, unlike Huabei, is not tied to consumption. Oh for sure. and Just Borrow! Ant claims to use “AI” to pair consumers with the best investment products for them. I mean, that’s its name, right? Business lending, though, is what folks focus on a lot because that’s just a massive market that was previously inaccessible, until online-only lenders like Ant-owned MYBank came in to do super quick decision, data-driven loans at roughly the same default rates as traditional banks. But most importantly, you can’t get cash advances on Huabei. [06:20]That, of course, was Taobao, which was launched in May 2003. And you can now get a $70 monthly credit line even for those merchants who don’t accept it. Investment experts are mulling potential outcomes. Jiebei, whose English name is “Ant Cash Now,” solves the problem that consumers in China have been having for a long time, which is just access to affordable, short-term loans. To facilitate these transactions, Alibaba developed Alipay, an online payment platform staring in 2004. We have no idea yet. So you can be smarter about the world of China tech. Mr. Hu became President of Ant Financial in November 2018.

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