The service, called Licaitong, was developed by the firm with four fund companies, including China Asset Management and GF Fund Management. It requires a minimum investment of RMB0.01 ($0.0017) and will enable users to buy and sell money market funds through mobile devices and get rates higher than typical banking deposits, it said in a statement.

The firm did not reveal when the service will be launched. 

Licaitong adds to the growing number of services that merge financial services with online platforms. In October 2013, Baidu, the Chinese search engine, partnered with China Asset Management to launch its first wealth management product, Baifa. In early 2014, Suning Commerce Group unveiled its first online investment service with GF Fund Management and China Universal Asset Management called Lingqian Bao.