Transactions of Sina's online wealth mgt. platform top RMB1.38 bln by Tue.
BEIJING, Nov. 5 (Xinhua) – The transactions of Sina's (SINA.NASDAQ) online wealth management platform Weicaifu.com totaled 1.38 billion yuan as of Tuesday, while the trading volume in October was 481 million yuan, rising nearly 100 million yuan from September, according to statistics released by the platform.
Zheng Xinwei, product director of Weicaifu.com, said that Weicaifu is a wealth management platform for fixed income that provides fixed-income wealth management products with annualized returns ranging from five to 12 percent. The platform doesn't participate in transactions and encourages small-amount, diversified investment to spread risk.
Statistics released by the platform show that average age of its users is 32; the asset per capita is 18,132 yuan; 76 percent investors on the platform were born in the 1970s and 1980s; and a majority number of investors are from China's first-tier cities, including Shanghai, Beijing and Chengdu. (Edited by Luo Jingjing, firstname.lastname@example.org)