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

  • May 2015 •
  • 3 pages •
  • Report ID: 2988039 •
  • Format: PDF
Abstract

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;s expansion into new verticals, the rationale underpinning these initiatives and the implications for other players in the market.