Zhang Jinling, the vice-president of MI, revealed recently at the 2016 Lujiazui Forum that MI will soon open an internet equity financing platform -- MI Financial -- and will appoint Zhao Minghui, the former deputy marketing director of its Shanghai financing department, as its CEO. This development means that MI has formally marched into the equity financing market following JD, BAT, QIHU360 and other internet companies.

This was not an instant decision. MI has been planning to enter this market for a long time in the same way as JD and Alibaba moved from investing in internet financial corporations, building a financial management platform, and subsidizing crowd-funding and debt products to finally establishing an equity financing platform.

On June 13, MI was approved by the China Banking Regulatory Commission to launch its internet bank. It is obvious that Lei Jun, the founder of MI, has great ambition in internet financial markets.