Alibaba allowed to lend 5 billion yuan more to small Chinese businesses

Beijing has authorised billionaire Jack Ma Yun's Alibaba Group to expand funding for its online loans business, which is designed to shake up an industry divided into heavily regulated state banks on the one hand and shady financing schemes on the other.

via Business feed http://www.scmp.com/business/companies/article/1283478/alibaba-allowed-lend-5-billion-yuan-more-small-chinese-businesses