On July 8, China Securities Index Co., Ltd, Baidu.com and Guangfa Fund Management Co., Ltd released “CSI Baidu Baifa Strategy 100 Index” through joint efforts. It will be the first internet big data financial market index and the first that directly reflect market sentiment in China. As Baidu.com’s only comprehensive strategic partner in banking business, IB has also participated in the project cooperation.
“Baifa 100” Index is the first internet financial index developed by truly using big data mining platform in China. By innovatively adopting big data thinking, the index incorporates Baidu internet big data mining and analysis technology into the quantitative model of index construction. As an experiment to the fund investment in the future and breakthrough of traditional index construction method, it aims to create a referential investment index with new internet technology and data analysis model.
The outside parties are watching how IB and Baidu.com will cooperate after the signing of comprehensive strategic cooperation agreement on June 12. As indicated by the informed person, there will be product-based serial investment and operation to the “CSI Baidu Baifa Strategy 100 Index” in exploring the application on wealth management product development. The first internet financial index fund is also scheduled to release in the future. IB will, by working with its direct banks, take part in the development and sales of new wealth management product featuring steady, high yields, low investment requirement and trading convenience.
As further learnt by the reporter, IB is strengthening the research of various internet-based innovative financial products such as P2P, P2B credit products, investment and financing platform of bank acceptance note, asset securization and non-standard products. The cooperation with Baidu.com will extend to co-branded credit cards, trade financing, internet loans and other areas.
As a bank with active performance in emerging business, IB closely follows the trend of internet finance. It has started to engage in internet finance since last December, and released a series of products, including Direct Bank, Xingyebao, NFC “Mobile Wallet” and Money Manager. It reached comprehensive strategic cooperation with Baidu.com in June, further accelerating its development in internet finance. It is reported that, by the end of June, the Bank’s signed clients of Direct Banks and Money Manager have exceeded 900,000 accounts, with accumulated transaction amount close to 180 billion yuan.