Internet giant Baidu Inc and China CITIC Bank Corp jointly launched Baixin Bank this week , partnered with Tencent and Alibaba to offer financial services to consumers in China . Hu Qichi , a corporate representative from Baidu holdings that subject to regulatory approval , Baixin Bank hopes to offer money management products to individuals as well as lend to consumers and small and medium - sized enterprises ( SMEs ) . We leverage this venture to underpin future robo - banking services .
Internet giant Baidu Inc and China CITIC Bank Corp jointly launched Baixin Bank this week, competing with Tencent and Alibaba to offer financial services to consumers in China. Hu Qichi, a PR representative from Baidu said that subject to regulatory approval, Baixin Bank hopes to offer money management products to individuals as well as lend to consumers and small and medium-sized enterprises (SMEs). We expect this venture to underpin future robo-advisory services.