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Lufax was founded in Shanghai in 2011 and originally specialized in providing trust services to financial institutions and private clients. In 2012, the company branched out into the retail wealth management space and quickly established itself as an innovative disruptor of the traditional financial system. By leveraging its cutting-edge technology platform, the company rapidly achieved tremendous scale and became one of the largest online wealth management platforms in China. By the end of 2019, Lufax had over 8 million users and 10,000 partners.
