Nowadays, the penetration of internet investment products has exceeded 45% in china. The internet investment products, such as P2P, Yu’E Bao, WeChat Licaitong and so on, are very popular among internet users according to research of Nielsen.
Since Alibaba’s launch of Yu’E Bao in June 2013, there are more and more internet investment products coming out in China. By the third quarter of 2014, Yu’E Bao’s users were over 149 million. Yu’E Bao’s exceeded RMB578.9 billion (US$94.09 billion), contributing over 98% of Tian Hong Fund’s total capital as of 31 Dec 2014.
Compared Yu’E Bao with bank financial products, consumers have higher expectation about bank financial product. The convenience internet investment products, low purchase standards as well as good liquidity are 3 major reasons for consumers purchase internet investment products in China in 2014.
Compared Yu’E Bao with bank financial products, consumers have higher expectation about bank financial product. The convenience internet investment products, low purchase standards as well as good liquidity are 3 major reasons for consumers purchase internet investment products in China in 2014.
Besides, 40% Yu’E Bao’s users checked their earnings every day while over 80% of users check every week in 2014. Some users showed their satisfactory when they make a profit from internet investment products which demonstrates the happy experience brought by internet investment products.
The top WeChat pay usage are bill payment & top-up (58%), transfer & remittance (56%), bill statement quiry (47%), client service counseling(46%) and credit card payment reminder (43%).
94% of the respondents used online payment in 2014 in China according to Nielsen’s research. There are various kinds of payment methods, such as 2-D barcodes, SIM Card, ultrasonic payment, mobile swipe card reader, apple pay and SMS.
On average each credit card holder has 2.3 credit cards in China. The number of credit cards increased to 391 million in 2013 while the growth had slowed in 2013 in China.
70% of the aging consumers (Chinese people who are over 55 years old in the cities) bought financial products in 2014. 50% of them have life insurance, 45% have credit cards while 20% of them even have VIP account in banks.
