{"id":4985,"date":"2015-06-26T01:36:12","date_gmt":"2015-06-26T00:36:12","guid":{"rendered":"http:\/\/english.thesunrisetoday.com\/?p=4985"},"modified":"2015-06-26T01:36:12","modified_gmt":"2015-06-26T00:36:12","slug":"alibaba-launches-internet-bank","status":"publish","type":"post","link":"https:\/\/english.thesunrisetoday.com\/index.php\/alibaba-launches-internet-bank\/","title":{"rendered":"Alibaba launches Internet bank"},"content":{"rendered":"<p style=\"text-align: justify;\"><a href=\"http:\/\/english.thesunrisetoday.com\/wp-content\/uploads\/2015\/06\/Alibaba.jpg\"><img loading=\"lazy\" class=\"alignleft size-full wp-image-4986\" src=\"http:\/\/english.thesunrisetoday.com\/wp-content\/uploads\/2015\/06\/Alibaba.jpg\" alt=\"Alibaba\" width=\"240\" height=\"160\" \/><\/a>Chinese e-commerce behemoth Alibaba on Thursday launched an Internet bank aimed at serving small businesses which often struggle to obtain credit from large banks. MYbank, which is 30-percent owned by Alibaba-linked Ant Financial Services Group, said in a microblog post it will offer loans of up to 5 million yuan ($800,000). The bank, based in the city of Hangzhou where Alibaba is headquartered, added it will serve \u201csmall businesses, individual consumers and rural users.\u201d Alibaba completed the world\u2019s biggest IPO last September with a listing on the New York Stock Exchange that raked in $25 billion and made founder Jack Ma one of China\u2019s richest men. The company\u2019s ambitions extend beyond e-commerce and it has already sought to shake up state banks with a financial product called Yuebao, an investment fund that offers better returns than traditional deposits. The IPO was priced at $68 and the shares rocketed to $120 in November. \u2014 AFP<\/p>\n<div id=\"fb-root\"><\/div>\r\n<script>(function(d, s, id) {\r\n  var js, fjs = d.getElementsByTagName(s)[0];\r\n  if (d.getElementById(id)) return;\r\n  js = d.createElement(s); js.id = id;\r\n  js.src = \"\/\/connect.facebook.net\/en_GB\/all.js#xfbml=1\";\r\n  fjs.parentNode.insertBefore(js, fjs);\r\n}(document, \"script\", \"facebook-jssdk\"));<\/script>\r\n <fb:comments href=\"https:\/\/english.thesunrisetoday.com\/index.php\/alibaba-launches-internet-bank\/\" font=\"arial\" num_posts=\"\" width=\"\" height=\"\" colorscheme=\"light\"  style=\"background:#FFFFFF;padding-top:0px;\r\npadding-right:0px;\r\npadding-bottom:0px;\r\npadding-left:0px;\r\nmargin-top:0px;\r\nmargin-right:0px;\r\nmargin-bottom:0px;\r\nmargin-left:0px;\r\n\"><\/fb:comments>","protected":false},"excerpt":{"rendered":"<p>Chinese e-commerce behemoth Alibaba on Thursday launched an Internet bank aimed at serving small businesses which often struggle to obtain credit from large banks. MYbank, which is 30-percent owned by Alibaba-linked Ant Financial Services Group, said in a microblog post it will offer loans of up to 5 million yuan ($800,000). The bank, based in &hellip;<\/p>\n","protected":false},"author":1,"featured_media":4986,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[6],"tags":[],"wps_subtitle":"","_links":{"self":[{"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/posts\/4985"}],"collection":[{"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/comments?post=4985"}],"version-history":[{"count":1,"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/posts\/4985\/revisions"}],"predecessor-version":[{"id":4987,"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/posts\/4985\/revisions\/4987"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/media\/4986"}],"wp:attachment":[{"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/media?parent=4985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/categories?post=4985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.thesunrisetoday.com\/index.php\/wp-json\/wp\/v2\/tags?post=4985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}