Chinese Search Engine Baidu Gains Online Banking License

By TechSecurityChina.com Editor
August 09, 2017

Not only will China’s biggest search engine have access to netizens’ online search habits, adidas pas cher it will soon also hold dominion over their bank accounts too.

Baidu Inc. Trevor Siemian Jerseys reportedly obtained regulatory approval to establish a direct banking unit in partnership with China CITIC Bank.

The joint venture bank named Baixin Bank will tentatively have RMB2 billion in registered capital. new balance u420 femme rose Baixin Bank, Air Jordan 1 Uomo which is 70% owned by CITIC Bank, adidas gazelle with the remaining stake held by Baidu, Steve Smith Sr Ravens Jerseys will not have any brick-and-mortar outlets. scarpe asics pallavolo blu It will only operate via the Internet, air max pas cher ATMs and mobile banking.

Rivals Tencent Holdings Ltd. Air Jordan 6 Donna and Alibaba Group Holding Ltd., Solde yeezy boost founded their own banking units in 2014 and 2015,

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