Financials:

Jack Ma’s Yunxi Investment decided to buy a stake of more than 20 percent in China’s financial software developer Hundsun Technologies in April. But it’s only months after that Alibaba officially launched its financial arm.

Alibaba’s Ant Small & Micro Financial Services Group Co, established on Oct 16, has six entities: Alipay, China's Paypal-like third-party payment platform; Alipay Wallet, the mobile application of Alipay; Yu'e Bao, a money market fund with 570 billion yuan ($93 billion) under management as of June 30; Zhaocaibao, a third-party financial services platform; Ant Micro, a micro-loan provider; and MYBank, a private bank.

The newly approved private bank, based in Hangzhou, has registered capital of 4 billion yuan, with Zhejiang Ant Small and Micro Financial Services Group of Alibaba holding 30 percent of its shares.

In a written statement sent to China Daily, MYbank said it will use the Internet as its major means of operation and will provide financial services and products with relatively simple structures to micro and small enterprises as well as individual customers on e-commerce platforms.

Logistics:

Alibaba has invested about 1.55 billion yuan in Singapore Post Limited, the national postal provider in Singapore and logistics solution provider in Asia-Pacific, according to its latest quarterly report.

The ecommerce giant earlier last year announced to establish a 100 billion yuan logistics network that aims to make 24-hour domestic deliveries possible with industry partners.

Ma said the move would be consistent with Alibaba's long-term vision to make logistics less of a bottleneck for the fast-growing e-commerce industry.

The project, China Smart Logistic Network, is expected to be completed in four to seven years.

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