Alibaba approved for private bank in China: regulator
Shanghai Sept 29, 2014 - Chinese e-commerce giant Alibaba, which completed the world's largest stock offering earlier this month, has received approval to set up a private bank, it was announced Monday. The China Banking Regulatory Commission (CBRC) said Alibaba would be the majority shareholder with a 30 percent stake in a private bank to be established in the eastern province of Zhejiang, where the company is head ... more
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