CRI听力:Robo-adviser market to surge in China

A report by CreditEase Corp says China will become the world's largest robo-adviser market in the near future thanks to its growing middle class and the popularity of the mobile internet.

A robo-adviser is an online wealth management service that provides automated, algorithm-based portfolio advice without the use of human financial planners.

Assets under management by robo-advisers increased to 18.7 billion U.S. dollars at the end of last year, while in 2012 the amount under management was close to zero.

In the United States, the rapid development of quantitative investing and big data technology has spurred the development of robo-adviser products.

Leading US robo-adviser companies including Wealthfront Inc and Betterment Holdings Inc, are also entering the market through mergers and acquisitions or by setting up their own robo-adviser platforms.

For more on this, we are joined on the line by CRI financial analyst Cao Can.