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Suning to offer fund payment service
苏宁电器开通基金支付服务
One of China’s largest home appliance retailers, Suning, will soon launch a subsidiary to provide payment and settlement services for online mutual fund sales.
This comes after the Securities Regulatory Commission gave the go-ahead on Friday. Suning meanwhile says it is still waiting for approval to operate a mutual fund e-commerce platform to tap into the growing number of internet shoppers.
In August, the company said it planned to set up a private bank after the government said it would promote the establishment of more financial institutions to support small companies.
