China-based Tencent Holdings has partnered with Shenzhen Kingdom Sci-Tech Co to launch a new wealth management platform on its live chat tool QQ.
The partnership will offer securities and wealth management services for clients, reported Shanghai Securities News (SSN).
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Tencent has created a QQ platform to focus on financial institutions including securities brokerage firms, trust companies, banks and fund management firms.
Additionally, the wealth management platform will include stock account opening, trading, marketing, customer services and social networking.
Shenzhen Kingdom will enable QQ to build a financial service platform to directly link more securities companies with QQ users.
The publication reported that five securities brokerage firms including Shenzhen-based Chinalion Securities, Zhongshan Securities, and Guangzhou Securities, have initially offered services via QQ’s wealth management platform.
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By GlobalDataThe move marks as Tencent’s effort to expand further into China’s emerging Internet finance sector.
