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Yiren Digital, Principal Financial to expand in China's retirement market

China's Yiren Digital Ltd.'s wealth management platform signed a strategic partnership deal with a subsidiary of Principal Financial Group Inc. to expand into China's retirement financial service industry.

Yiren Wealth and Principal Global Investors (Hong Kong) Ltd. will use financial technology, asset allocation and digital wealth management resources to develop customized investment products and solutions for the retirement sector in China, according to a Jan. 10 filing.