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Posted inPolitics

The Yu’E Bao App is Changing Banking

An online banking application in China has collected more than $66 billion from 81 million customers in less than nine months. The app, Yu’E Bao, which launched last June, gives customers a seven-day annualized return with a high yield of 6 percent, compared to the just 3 percent offered for a one-year deposit at state-controlled […]