Tencent Holdings Ltd. (00700.HK) may launch a financial product on its popular mobile messenger app WeChat in early December, 21st Century Business Herald reported Wednesday, citing people with knowledge of the matter. The product will be similar to Alibaba Group’s money market fund Yu E Bao, the report said. Tencent may cooperate with China Asset Management Co. Ltd, E Fund Management Co.Ltd, GF Securities Co Ltd (000776, CN) and China Universal Asset Management Co., Ltd., unnamed sources were quoted as saying. In addition, WeChat’s enterprise users will enjoy several more services as early as next month, including an expanded promotion channel.
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