At 10:28 AM on October 28th, the "Baidu Finance Center - Wealth Management" platform will officially launch. Simultaneously, the wealth management plan "Baifah" (8. baidu.com) will also go online.
The "Baifah," which had previously attracted significant attention with claims of an annualized return rate as high as 8%, turned out to be a false hope. Subsequently, the head of Baidu Finance Center clarified that there was no guarantee that the "Baifah" product would achieve an 8% return rate, nor was there any promise of principal or yield protection.
According to the introduction, "Baidu Finance Center" will comprehensively utilize Baidu's existing resources and engage in equal cooperation with various financial institutions. This collaboration aims to reshape the design, packaging, sales, and services of traditional financial products, providing users with innovative financial products and services.
"Baifah" is jointly launched by the Baidu Finance Center and China Asset Management (Huaxia Fund). It will be issued in limited quantities and fully guaranteed by China Investment Guarantee Co., Ltd. It is understood that the minimum investment threshold for Baifah is only 1 yuan. After-sales support includes quick redemption and instant cashout, facilitating the inflow and outflow of user funds.