China Minsheng, Alibaba to cooperate in banking services
HONG KONG, Sept 16
HONG KONG, Sept 16 (Reuters) - China Minsheng Banking Corp Ltd , the country's seventh-largest listed bank, said on Monday that it has signed a strategic tie-up with e-commerce giant Alibaba Group Holding Ltd to cooperate in banking services.
The services include wealth management, credit card, direct banking and information technology, Minsheng said in a securities filing with the Hong Kong stock exchange.
Alibaba has already started lending to small- and medium-companies in China, though that business accounts for only a fraction of the group's core operations.