Tencent Out Of The E-Bank Gate, Alibaba On Its Heels

By | February 9, 2015

Scalper1 News

China’s two largest Internet companies — Tencent Holdings and Alibaba Group — are moving into e-banking, extending their competition to an industry with big potential in a country registering breakneck growth in Internet use and small businesses hungry for loans. Last year, the Chinese government launched a pilot program allowing private companies to own banks in the country for the first time. China’s closely controlled banking sector has been Scalper1 News

Scalper1 News