New wave of apps give Chinese investors access to US equities

Smartphone apps are opening up US financial markets to China’s middle class as its members seek a safe, profitable place for investible assets expected by Boston Consulting Group to reach RMB196 trillion (US$31 trillion) by 2020, The Wall Street Journal reported. “We’re targeting the new affluent, this younger demographic that has had limited options to invest their money and who are moving online and investing much more quickly than the earlier generation,” said Barry Freeman, co-founder of the firm Jimubox, whose JimuStock service providing Chinese citizens access to US equities launched in December.