Ant Financial Services Group, operator of online payments service Alipay, has received regulatory approval to launch China’s first traded security backed by loans to online retailers, opening up a new financing channel for the e-commerce industry.
Alibaba is the world’s biggest e-commerce group. Founded by Jack Ma, it owns Tmall.com and its consumer-to-consumer business Taobao.com. Alibaba Group is the owner of the South China Morning Post.
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