FundTianhongZenglibaohasbecomethefirstfundinChinatohit100billionyuan(＄16.30billion)ofsalesthankstoitscooperationwithYu’ebaoAlibaba’swealthmanagementproduct.Alipay(支付宝)attachedtothee-commercegiantAlibaba

Question

Fund Tianhong Zenglibao has become the first fund in China to hit 100 billion yuan (＄16.30 billion) of sales thanks to its cooperation with Yu’ebao Alibaba’s wealth management product.

Alipay(支付宝) attached to the e-commerce giant Alibaba Group announced in June it

would offer its users the option to directly invest with the private Tianhong Fund using spare cash from Alipay accounts. The business is called Yu’ebao.

The past five months have seen this fund blossom owing to the prosperous Interet e- commerce platform and the Singles Day shopping spree on November 11 had helped Yu’ebao. In the process of a deal on Taobao once the buyer pays for the order his or her money is first accepted by Alipay then after he or she receives the goods a final confirmation is made and Alipay then gives the money to the seller. If a buyer forgets to confirm payment the money is transferred into the seller’s account after 10 days by the system.

The Singles Day had a total volume of 35 billion yuan(＄5.75 billion) and thus a large amount

of money passed through Alipay’s account. Analysts estimated that Alipay may have also bought the fund using the extra income which powerfully enla rged the scale of Yu’ebao. Profit purchasing investors tend to choose safe financial management tools. The relatively stable yields of Yu’ebao is favored by most customers the report said.

Chinese e-commerence giant Alibaba allows consumers to invest their spare cash in the money market funds through its Alipay online payment service. The product called Yu’ebao or “Leftovers Treasure ” has netted 130 billion yuan so far making the fund’s management firm

Tianhong Fund the country’s largest fund management company.

Meanwhile due to the cooperation with Alipay the management scale of Tianhong monetary fund has doubled from 55.653 billion yuan at the end of September to over 100 billion yuan. During the Singles Day the frequency of payment of Alipay and Yu’ebao exceeded 188 million and 16.79 million with total transaction volume at 35 billion yuan and 6 billion yuan.

The fund has been successful so far mainly because .

it is the country’s largest fund management fund.

it was the first fund in China to cooperate with Yu’ebao.

consumers can directly invest the spare cash in it through online payment service.

D.The online shopping is prosperous and the Singles Day shopping makes great

contribution.

From the passage we can know that Alipay  _.

allows sellers to invest their spare cash in the money market funds

offers the business called Yu’ebao

has doubled to 55.653 billion yuan at the end of September

transfers the money from the buyer to the seller directly

Which of the following is the best title of the passage?

Yu’ebao the right choice to invest

Alibaba helps make China’s largest fund

Celestica the largest fund in China

Alipay a branch of Alibaba group

Answer 1

D AB