Chinese online payment gateway Alipay gives e-tailors an investment option When Wang Bowen,24,graduated with a master’s degree at Tsinghua University in Beijing in July,she had more on her mind than her fresh diploma. Already having secured a spot as a reporter at the state-run Xinhua News Agency, Wang wasn’t anxious about landing a job. She was,however,anxious about her savings, locked up in deposit accounts capped by a government-mandated return rate of around 3 percent.With the cost of living in Beijing skyrocketing and inflation denting low-yielding accounts,Wang was looking for a financial alternative. Enter Yu’ebao,launched in mid-June.
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