WeChat, the instant messaging service of Tencent Holdings Ltd. (00700.HK), is set to conduct on Wednesday an internal system testing for its new finance platform, which includes a money-market fund service, the 21st Century Business Herald reported Wednesday, citing company sources. The service, similar to Alipay’s Yu’e Bao, will be officially launched later this week, according to the newspaper. ChinaAMC Capital Management Ltd. is understood to be the first partner of WeChat’s online fund products, with E Fund Management, GF Fund Management, and China Universal Asset Management also lining up. Operation of the service will be overseen by Tenpay online payment service, the report said.
– Contact HKEJ at [email protected]