RIGHT BG
The small-loan business arm of e-commerce giant Alibaba Group has obtained the China Securities Regulatory Commission's approval for its new asset-backed securitization plan, media reports said Thursday.
Through the plan, which is operated by brokerage firm Orient Securities Co, investors will be able to invest in loans that Alibaba has provided to other businesses on the company's online platform.
The plan took around five months for the securities watchdog to approve.
Alibaba launches investment product
2013-06-18Alibaba injects 100b yuan in Cainiao Network
2013-05-28Alibaba puts frozen food on the menu
2013-07-04Alipay mutual fund wins 2.52m investors
2013-07-02Alipay launches retail investment fund
2013-06-18Copyright ©1999-2018
Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.
