With $1.9 Billion Investment, Former Baidu Unit Challenges Fintech Rivals; TPG and Carlyle Group led investment into the new firm, Du Xiaoman Financial

Investible assets in China's private wealth market were predicted to grow 14% year over year to reach 188 trillion yuan by the end of 2017, according to a study by Bain & Company and China Merchants Bank released last August.

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