Zhejiang Alibaba Offers E-Investors Promissory Note Option

(Beijing) – A type of wealth management product that allows investors to buy promissory notes from companies is in the spotlight after Zhejiang Alibaba E-commerce Co., a pioneer of Internet finance in the country, recently rolled out the service.

Zhaocaibao Financial Service Information Co., a wholly owned subsidiary of Zhejiang Alibaba, was established on April 3. It offers a series of wealth management products that most retail investors are not familiar with through Taobao.com, a shopping website owned by Alibaba Group Holding Ltd., a company linked to Zhejiang Alibaba.