Qatar Fund Is Near Investment in China's Top Online Lender

The Qatar Investment Authority is in advanced talks about an investment in Lufax, China’s biggest online lender, as the sovereign wealth fund seeks to tap into the world’s second-largest economy, people familiar with the matter said. QIA has been negotiating the potential purchase of a minority stake in Lufax, which is an arm of China’s Ping An Insurance (Group) Co., according to the people. Ping An, China’s largest insurer by market value, has been spending on technology to make its insurance, banking and asset management businesses more competitive.