Investment Products

While Alibaba made its name in e-commerce, its Yu E Bao investment fund has drawn 400 billion yuan from investors. Photo: Bloomberg

Banks fight back against online investment products

The mainland's bricks-and-mortar banks are launching a counterattack against the assault on their business from Alibaba and other internet heavyweights, in an attempt to staunch the outflow of bank deposits into high-yielding online investment products.