FIRST AIRED: June 3, 2016

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00:00:00
it's already an e. commerce giant now ali baba always hoping to steal a slice of another sector , it's launched an internet bank with an ambitious objective , my back will target small to medium sized chinese firms , struggle to secure credit from bigger lenders check bar is chairman of the alibaba group you will be changing china does not like a bank neither does the world like a bank but both china and the world like a bank that is innovative and serve small businesses and consumers , my back is thirty percentile by the ali baba linked and financial services group as registered capital of almost six hundred and fifty million dollars wonderful loans of up to eight hundred thousand dollars , it's not china's first online bank ali baba's arch rival ten cent took that title in january by starting trials of its weapons and it's unlikely to have an immediate impact on china's state owned lenders , its wealth management product is china's biggest money market fund jeremy stretches from c. i. b. c. going to be interesting to see how the architecture in the infrastructure of this %HESITATION bank really plays out optically in terms of risk management because of course that's one of the key metrics on terms of the financial sector and that's going to be a an interesting %HESITATION solari waiting to play out also in terms of the stability and rigidity of the technologies , well not subject my bank because interesting ideas to the plans to run on cloud computers and avoid using u. s. technology