A wholly owned subsidiary of Chinese tech giant Tencent has gained qualifications for third-party fund sales,
A wholly owned subsidiary of Chinese tech giant Tencent has gained qualifications for third-party fund sales, according to the securities watchdog in Shenzhen.
Before the approval, funds were sold on Tencent’s wealth management platform qian.qq.com to customers by linking them to fund firms or third-party fund sales agencies. Tencent is expected to expand the company’s presence in financial sectors ranging from payment to wealth management and the microloan business.
