More than 60 million people have signed up to Yu E Bao since its launch in June last year, attracted by a high annualised yield of up to 7 per cent. Photo: SCMP Pictures

Alibaba's online fund Yu E Bao rakes in the yuan as banks suffer

Yu E Bao has attracted some 400 billion yuan since its launch last year, thanks to high interest rates which easily beat traditional bank offerings

Topic |   Alibaba

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More than 60 million people have signed up to Yu E Bao since its launch in June last year, attracted by a high annualised yield of up to 7 per cent. Photo: SCMP Pictures
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