Baidu Inc, which operates China’s largest Internet search engine, said it will launch a second Internet-based investment product next week after its 1 billion yuan (US$164 million) money market fund was sold out in two hours in late October, Shanghai Daily reported Wednesday. The new product, a tailor-made bank deposit agreement, will offer subscribers a higher yield than the normal fixed-term deposit rate, the report said. It will open for subscription on Monday. Baidu did not specify terms and expected yield, the paper said.
– Contact HKEJ at [email protected]