Latest News:  


Founder now first broker to launch online sales channel

By Wu Yiyao (China Daily)

08:22, March 15, 2013

Founder Securities Co Ltd, the Shanghai-listed brokerage, has launched an online sales channel to become the first brokerage to sell products and services on a third-party e-commerce platform.

Analysts said the Changsha, Hunan province-based brokerage's new online service will help with the industry's recovery by expanding sales channels and could provide a valuable new source of sales targets through the "data-mining" of customer investment habits.

Founder's online shop on, one of China's largest online business-to-commerce e-commerce platforms, sold more than 100 products within 30 hours of opening, it said, including 94 copies of a one-yuan (16 cents) wealth management software, which had previously sold for 500 yuan each.

Founder is China's eighth biggest brokerage by market value, and is the Chinese partner of Credit Suisse.

Its Tmall shop, which focuses on investment consultancy services and wealth management software, will deliver products via digital documents to buyers' e-mail accounts or mobile phones upon receipts of the payment, said Yuan Hai, its retail products general manager.

Yuan said the Tmall shop will help the growth of various Founder businesses and give the brokerage great advantages once off-site accounts are approved.

Unlike investors using Founder's own online account system, buyers do not need to have an account with the brokerage when they use the consultancy services or buy software online.

Wang Qinmei, a buyer, said his transaction was smooth and quick, and of the same quality as that from a sales office.

"Paying online for such a service will make investment more convenient - you don't have to wait for a manager to respond to your inquiries," said Wang.

China led the world at the end of last year in the number of people making online payments, according to the Payment and Settlement Department of the People's Bank of China.

"Online businesses have the advantage of having no geographical limit, which helps them win more customers.

"It also costs less to maintain a virtual shop, and is certainly less than running a branch in Shanghai," said Yuan.

Yang Zihao, an account manager with a Shanghai-based brokerage, said the impact of online shops is small so far, as investors need time to get familiar with the channel.

The latest figures show that the monthly net profit of 19 securities brokerages listed in Shanghai and Shenzhen totaled 1.84 billion yuan in February, a 30 percent drop from January.

Total revenues were was 4.9 billion yuan, down 25 percent from January. Only two of the 19 saw profit growth while 15 reported profit gains.

Founder's online shop may also help its off-site accounts business once approved by China Securities Regulatory Commission, said Yang.

We recommend:

MediaMarkt closes all Chinese stores

Top 10 Chinese cities with highest urbanization quality

Chinese investment in Africa: Digging deeper

E-commerce changes commercial activities

Nation may limit gold to 2% of foreign reserves

Lu Zhaoxi named Alibaba's new CEO

Email|Print|Comments(Editor:HuangBeibei、Liang Jun)

Related Reading

Leave your comment0 comments

  1. Name


Selections for you

  1. New-type guided missile frigate 'Bengbu' is commissioned to PLA Navy

  2. 14th Chinese naval escort taskforce in drill to rescue hijacked ship

  3. Kim Jong Un visits Defence Detachment

  4. Panic over dead pigs prompts satire

  5. Hailstones diameter hit SW China

  6. Chile unveils world's largest observatory

  7. Centenarian couple become cewebrities

  8. Anchors join Shenzhen TV

  9. South Africa is ready for BRICS

  10. Cities with highest urbanization quality

Most Popular


  1. How to start transformation and upgrading?
  2. Nation facing energy security threat: experts
  3. Plenty of hard work still to be done on rail reform
  4. 'Made in China' not equal to 'self-made in China'
  5. Efforts needed to nurture ethnic culture, language
  6. Filipina maids or local ayi?
  7. China won't take part in currency wars
  8. Long live the kingdom of bicycles!
  9. Income gap still hot topic
  10. Bigger does not always mean better for megacities

What’s happening in China

Hailstones measuring 7 cm in diameter hit SW China

  1. Anti-infection drugs induce most adverse effects
  2. Rainstorm widow sues over car plate
  3. White collars to have more travels this year
  4. Parents taking children to beg lose guardianship
  5. East China fire kills 6 family members