China Reforms Poised to Reshape Landscape for Alibaba to GM
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China’s planned economic reforms are poised to reshape the competitive landscape, allowing private companies such as Alibaba Group Holding Ltd. to compete with state-owned banks and easing the one-child policy to bolster demand for products from Nestle SA to General Motors Co.
Plans to change the nation’s financial sector include a new registration system for initial public offerings and allowing qualified private investors to set up small-to-medium sized banks. Tencent Holdings Ltd., Asia’s biggest Internet company, is part of a group applying for a banking license in China.