Skip to content
Subscriber Only

Alibaba Arm to Create $163 Billion Loans Marketplace

Alibaba Group Holding Ltd.’s finance arm aims to create a marketplace for 1 trillion yuan ($163 billion) of loans in as soon as two years as the e-commerce group encourages more Chinese to borrow and lend.

Alibaba in April started Zhao Cai Bao, a platform that lets small businesses and individuals borrow from investors directly, and has created a 14 billion yuan marketplace, Yuan Leiming, a general manager at Alibaba’s financial arm, said yesterday.