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The Alibaba and Tencent's private banking initiatives in China highlight expansion into new verticals

The Alibaba and Tencent's private banking initiatives in China highlight expansion into new verticals

Alibaba is expected to launch a private online bank in 2Q 2015, which follows Tencent's launch in January 2015 of WeBank, China's first online-only private bank. This comment discusses Alibaba and Tencent's expansion into new verticals, the rationale underpinning these initiatives and the implications for other players in the market.


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