In China, Trading Begins on WeChat
- Personal messaging apps used to solicit offers, share intel
- Ubiquitous WeChat use raises questions about record keeping
HK Watchdog Hit Banker With Ban for WeChat Use
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In China, bankers and traders don’t just hit the phones or send an email when they have a deal to sell. They take to WeChat.
Regulators elsewhere may be clamping down on the financial industry’s use of private messaging apps, but in the world’s second-largest economy the practice is flourishing. Players in China’s $11 trillion bond market use personal accounts on WeChat and QQ -- apps owned by Chinese tech giant Tencent Holdings Ltd. -- for everything from distributing research to soliciting orders.