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Suning Finance Granted with Fund Sales License, Holding a Leading Number of Licenses

2016-03-24 11:49:36

In recent days, Nanjing Suning Fund Sales Co., Ltd. subordinated to Suning Finance obtained the “certificate of fund sales business qualification” granted by China Securities Regulatory Commission. By now, Suning has obtained 11 industry licenses and the all-business pattern is almost equal to Ant Financial. 

Suning Finance obtained the fund sales payment license in 2013 and later got another authoritative license of the fund industry. These two licenses mean that Suning Finance is allowed to operate in securities investment, fund sales, fund sales payment and settlement businesses.

 

Reporters notice that Suning has established extensive contact with many fund management companies and reached cooperation intention to provide different types of fund products for individual and institutional customers as well as services with high net value and added value. Now relevant products are undergoing internal tests.

 

Data indicate that by the end of December in 2015, the publicly offered funds of China have reached RMB 8 trillion, and the third-party fund sales institutions grow fast. It is expected in the industry that the third-party sales agencies of funds in the coming 3-5 years are hopeful to occupy more than 30% of the market shares. This means that all third-party sales agencies are going to share a large cake of RMB 2 trillion in the coming years.

 

 Facing the huge market and fierce competition, Suning Finance has obvious advantages in O2O mode and brand power.

 Different from traditional internet financial institutions, Suning Finance integrates online and offline O2O modes. In respect of the online mode, Suning Finance owns 130 million members and wins a large number of loyal fans; while in respect of offline mode, Suning Finance has established 55 Suning wealth centers distributed in 32 cities nationwide to provide fast and convenient investment, fund management and consultation services.

 

“Fund products demand high professional level of investors as different investment targets have different risks. We provide not only products suitable to self risk preference and but also guidance from professional investment and fund management experts.” A responsible person of Suning Finance said. At the same time, endorsed and supported by Suning brand, Suning Finance is able to give more confidence to investors.

 

In recent years, open funds have become important money management tools for social public, and many internet finance platforms have obtained fund sales business licenses. Now Suning have obtained 11 industry licenses including third-party payment, consumer finance, small loan company, commercial factoring, disbursement from fund , fund sales, private equity, insurance sale, enterprise credit investigation, prepaid card and overseas payment, establishing an all-license pattern almost equal to Ant Financial that has the most complete financial licenses of China.

 

“Continuously perfect the multi-license pattern in banking, insurance, trust, securities and other financial institutions to provide multi-scene and integrated comprehensive financial service for customers. Suning Financial Holding is ascending to the first place among domestic internet finance groups.”The Chairman  of Suning Financial Holding  Zhang Jindong said when guiding the work in Shenzhen Great Area


Industry insiders believe, as the Premier Li Keqiang stated “develop internet finance in standard way ” in the government work report during NPC & CPPCC, the internet finance will terminate the wild growth status and follow the trend of standardization. Suning Finance obtaining new licenses not only improves self standard level and public trust, makes its business pattern more perfect, but also facilitates the healthy development of the industry. 


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