Big Three Telecom Operators Jump into Online Investment Fray

(Beijing) – The Guangdong branch of China Unicom and Baidu Inc. recently launched an online money market fund, called Wobaifu, making the telecoms operator the latest to jump into the industry.

China Mobile, China Unicom and China Telecom have taken steps lately toward offering the online money market funds. China Telecom launched Tianyibao in April, and China Unicom's Shenzhen branch started offering Huafeibao on May 20. China Mobile has not launched a product, but it says its Hejubao offering will be available in the next few months.