12 September 2000) China’s first "Internet financial platform" combining online securities, banking and insurance services, began operations Aug. 28. The financial platform was developed and is operated by the China Banking and Securities Data Network Co., a wholly owned subsidiary of the China Everbright Group.

This Internet financial platform is a new medium through which financial institutions offer online services and a general gateway for customers to carry out their online personal funds management, reported the Aug. 29 Yangcheng Wanbao (Yangcheng Evening News).

The first and current phase of the China Banking and Securities Data Network’s platform permits online securities trading and related funds transfers between banks and securities firms. General online banking and insurance businesses also are currently opening one after another, the article noted.