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Chinese tech company Tencent's online finance arm WeBank is reportedly seeking to raise some one billion U.S. dollars to expand its financial services.
据报道,中国科技公司腾讯的在线金融部门WeBank试图筹集约10亿美元资金用于扩大金融服务。
The Wall Street Journal reports that WeBank is in discussions with outside investors1 for investments that could value it around 5 billion U.S. dollars.
This after Internet search provider Baidu announced a partnership2 with CITIC this week to set up a direct bank, which is a bank without any branch network, offering its services mostly online.
At the same time, Taiwan-based Foxconn is also getting into the financial services business.
The firm says it's planning to start bundling the loan agreements it has with electronic component3 suppliers and begin selling them as derivatives4.
The company set up 6 financial-services operations in China last year, which provide loans and other financing services to its suppliers.
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