Alibaba Group 's Ant Financial , Ping An - backed Lufax and start - ups such as WaCai are among the Chinese firms preparing for the rise in robo - advisers , a market expected to grow in size every year through to 2021 , with a projected 79.4 million users versus about 2 million Chinese investors at present according to market research firm Statista . FILE PHOTO: Traditional banks , such as China Merchants Bank , have already expanded into the sector , while Industrial and Commercial Bank of China and Ant Financial are both preparing to launch their own robo - adviser products to capture more income from the retail sector .
Alibaba Group 's Ant Financial , Ping An - backed Lufax and start - ups such as WaCai are among the Chinese firms preparing for the rise in robo - advisers , a market expected to grow in size every year through to 2021 , with a projected 79.4 million users versus about 2 million Chinese investors at present according to market research firm Statista . Traditional banks , such as China Merchants Bank , have already expanded into the sector , while Industrial and Commercial Bank of China and Ant Financial are both preparing to launch their own robo - adviser products to capture more income from the retail sector .