Chinese financial services and media company, Xinhua Finance, announced launch of an online corporate and financial information service. Details, and a quick thought:
The China Insight platform is reported to have a
comprehensive database of information and financials covering all of China's publicly traded
companies. The database also includes exclusive news and ratings
information within one integrated platform. It uses software developed by Mergent, the global business and financial information provider
that Xinhua Finance acquired last year.
Of course, in its defense, China Finance hopes to be the "Bloomberg of China" for the "retail investor" - NOT for the "institutional investor".
Either way, China Finance wasn't succeeding, due to continued weakness in the Chinese stock market. What's more, it promised a March announcement updating investors about the development of new strategies.
What happened? The company announced a share buyback in March. And a new strategy? The company said nothing.
So that leaves us with a new competitor specializing in providing financial and listed company data and information in China - and no clear idea what lies ahead for China Finance Online.