Gregory Gibb, chairman of Lufax, said the online platform will be ready in 2017, granting wealthy mainlanders legal access to foreign capital markets.

Lufax, the world s second-largest financial technology firm, is gearing up to launch a platform to facilitate Chinese investors asset allocation around the globe amid a depreciating yuan.

The internet finance business of Ping An Insurance, China s largest insurer by market value, will target millions of cash-rich mainlanders who already have offshore assets, helping them chase returns on the overseas equity markets via cyber space.

Gregory Gibb, chief executive of Lufax, told reporters on Wednesday that a complete online platform will be established in 2017, granting wealthy mainlanders legal access to foreign capital markets to cater to their surging demands for asset diversification.

Demand for overseas investment among Chinese people and businesses is constantly increasing, said Gibb.

Lufax formed a partnership on Wednesday with eToro, an Israeli fintech firm that pioneered the revolutionary concept of social trading.

The text above is a summary, you can read full article here.