Suning takes fund-trading online

Suning Appliance Co, China's largest home appliance retailer, will launch an online investment platform similar to e-commerce giant Alibaba's Yu'ebao in November, according to China Security Journal.

Nanjing Suning Yifubao Internet Science Co, under Suning Commerce Group, obtained approval from the China Securities Regulatory Commission in October to buy, sell and settle funds.

Suning is operating more than 1,600 stores around China. The launch of the fund-trading platform will present big opportunities for fund industry in China, observers say.