Rumors on the Internet revealed that the Chinese B2B e-commerce group Alibaba has set up a commercial bank subsidiary, which has gained the approvals of the People’s Bank of China and China Banking Regulatory Commission.
Alipay.com, the Chinese third-party Internet payment platform and a subsidiary of the B2B e-commerce group Alibaba, has launched a joint security and risk control program with major Chinese banks.
Chinese Internet company Tencent and China Merchants Bank have signed a strategic cooperating agreement to realize overall cooperation for the construction of a financial service platform.
