BEIJING, Dec. 7, 2017 /PRNewswire/ — China Finance Online Co. Limited (“China Finance Online”, or the “Company”, “we”, “us” or “our”) (NASDAQ GS: JRJC), a leading web-based financial services company that provides Chinese retail investors with online access to securities trading services, wealth management products, investment advisory services, as well as financial database and analytics services to institutional customers, today announced its ceremonial signing of a strategic cooperation agreement with the leading brokerage firm in China, CITIC Securities.
At the signing ceremony, China Finance Online and CITIC Securities announced that both parties will be committed to a long-term and comprehensive strategic cooperation on investment advisory and wealth management services by applying more intelligent finance technologies.
Mr. Zhiwei Zhao, CEO and Chairman of China Finance Online commented, “In this day and age of the convergence of technology and finance, the competing area among Chinese brokerage firms is gradually moving from commission to the depth of services. The companies create more value for users get to retain customers and attract new customers through word-of-mouth. We have witnessed that science and technology enable a significant improvement of services which produce the ultimate benefits for customers. As an undisputed industry leader, CITIC securities foresaw this trend and made this strategic plan to empower its investment advisers with financial technology to improve services in the midst of broadening its brokerage business to the wealth management business.”
Under the agreement, both parties will cooperate in the area of investment advisory services, and China Finance Online will provide CITIC Securities’ investment advisors with our proprietary cloud-based software products. Both parties will cooperate to carry out intelligent asset allocation research to enhance their wealth management capabilities.
Using the philosophy that “science and technology to promote service, service to promote efficiency”, CITIC Securities as the industry leader has made Fintech a core priority to enhance its investment advisory services, and to promote the transition of the brokerage business to the wealth management business.
Mr. Xinli Yu, managing director and the executive director of the market research department of CITIC Securities, commented, “Limited by scale, efficiency and cost, the traditional brokerage and investment advisory services cannot meet the huge and rapid growth of the wealth management needs of more than 100 million Chinese retail investors, who have not access to professional investment advisory services. The combination of financial service with artificial intelligence, big data, cloud computing and other