Investment companies will likely begin selling financial products through popular e-commerce platform Taobao.com before October, according to China Securities Journal on Monday.
Taobao had initially planned on launching the fund platform in August, but negotiations between the e-commerce platform and investment companies have taken longer than expected, reported CSJ. One of the major problems is finalizing a pricing system.
Many fund companies have been looking to develop more sales channels beyond banks. Some have been selling investment services packages and software on Taobao.com for more than eight months.