Minsheng Bank Teams With Alibaba For Online Microfinancing Tools

News Source: ChinaTechNews.com

China Minsheng Banking Corporation and Alibaba Group have formed a strategic cooperation for the establishment of an open Internet financial platform aiming to serve small and micro enterprises as well as grassroots Chinese consumers.

Under the agreement signed by the two parties, apart from the traditional clearing and settlement and credit card services, Minsheng Banking and Alibaba will focus on financial management services, direct banking services, Internet terminal finance, and information technology.

Hong Qi, president of Minsheng Banking, said that traditional banks are seeking new ways of development and the introduction of the Internet element will bring flexibility to big organizations. The strategic agreement with Alibaba is only a beginning for the cooperation between the two parties. In the future, Minsheng Banking will attach m...

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