China search giant Baidu joins local lender CITIC to launch direct bank in online finance push

China search giant Baidu joins local lender CITIC to launch direct bank in online finance push

Photo: Reuters

China CITIC Bank Corp Ltd and Baidu Inc on Wednesday said they plan to set up a direct bank to capitalize on China’s booming online finance market, in the country’s first tie-up between an Internet firm and a lender.

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