NetEase, a Chinese Internet technology company, has unveiled a new investment product online platform.
Following Baidu’s Baifa, NetEase’s first wealth management product, Tianjin, will be sold starting Dec 25 on that platform, chinadaily.com.cn has reported.
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However the annual yield of Tianjin was not disclosed. NetEase will offer a 5% discount for investors who purchase the product.
NetEase said that returns of Tianjin are expected to exceed 10% by taking into account the annualized yield of Xianjinbao, which is currently 5.97%.
Furthermore, during the time of the new product launch NetEase plans to limit the sale of Tianjin, but the specific quantity has not been disclosed.
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