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Alibaba’s RynnBrain: A Major Leap in Physical AI and Robotics
https://amoghavarshaonline.blogspot.com/2026/02/alibabas-rynnbrain-major-leap-in.html
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New Post has been published on News From Banks | Banking and Investment Blog
New Post has been published on http://www.newsfrombanks.com/alibabas-digital-bank-comes-online-to-serve-the-little-guys-in-china.html
Alibaba's Digital Bank Comes Online To Serve 'The Little Guys' In China
You may know Alibaba for its huge e-commerce business in China and the record-breaking U.S. IPO that it held last year. But there’s a lot more to the Hangzhou-based company than that, and, as of this week, that includes an online bank.
Alibaba-backed MYbank opened Thursday with a promise to provide services “for the little guys.” The service is an all-digital bank, it has no physical branches but is open 24/7. It is aimed at those who tend to end up a little short changed by the existing banking system — SMEs who struggle to fit into a financial bracket for loans and services, and those in rural areas who have issues accessing branches and banks in person.
“Answering to the needs of those who have limited access to financial services in China is our mission,” said Eric Jing, president of Ant Financial — the Alibaba affiliate backing the bank.
“MYbank is here to give affordable loans for small and micro enterprises, and we are here to provide banking services, not for the rich, but for the little guys,” Jing, who is also executive chairman of MYbank, added.
Initially, it is aiming to pay out loans of up to 5 million RMB ($ 800,000) to SMEs, enterprises, entrepreneurs and consumers — although it still requires final green lights from authorities before it can break the seal on its purse of 4 billion RMB ($ 640 million) in registered capital.
The bank believes it can pass on savings to customers by cutting out the expensive processes and systems that traditional banks deal with. For example, MYBank uses cloud computing rather than internal IT systems, while it has kept its staff to 300 employees thanks to being digital.
MYbank has the potential to be disruptive, particularly piggybacking the Alibaba name and brand in China, but Jing said he intends to work with the bank’s traditional peers too.
“Small and micro enterprises may not be our clients in the future when their businesses grow beyond our capabilities. And we will recommend our clients to seek financial solutions at traditional banks,” he added.
Alibaba isn’t the only Chinese internet firm moving into banking. Tencent, the creator of smash-hit chat app WeChat, began piloting WeBank, which was China’s first digital bank, in January of this year.
Ant Financial’s other services include Alipay, the payment service that processes three times more payments than PayPal, a loan program, and online investment platform Yu’e Bao. Ant Financial, which was formerly known as Alipay, was spun out of Alibaba prior to the firm’s blockbuster U.S. listing and it is tipped to go public in China within the next two years.
Featured Image: aaron tam/Getty Images
Alibaba's World: How a Remarkable Chinese Company is Changing the Face of Global Business
In September 2014, a Chinese company that most Americans had never heard of held the largest IPO in history - bigger than Google, Facebook and Twitter combined. Alibaba, now the world's largest e-commerce company, mostly escaped Western notice for over ten years, while building a customer base -Read more...
New Post has been published on News From Banks | Banking and Investment Blog
New Post has been published on http://www.newsfrombanks.com/chinas-financial-repression-and-alibabas-banking-arbitrage.html
China's Financial Repression and Alibaba's Banking Arbitrage
There’s much stock market excitement about the various Chinese internet companies, Alibaba, Tencent, Xiaomi, and their move into what is essentially online banking. Will they be able to capute significant percentages of the market, just how dang big is that market anyway and which of them is going to do best? We, here at this particular part of Forbes, don’t do technology nor stock markets, but macroeconomics. And truth of the matter here is that all of those things are going to depend upon the Chinese Goivernment’s macroeconomic policy making. Specifically, how much are they going to relax the country’s current financial repression and how much are they going to allow these companies to arbitrage around it? Absolutely nothing else is going to have an effect as large as that one single decision.
Here’s Fortune on the speculation:
The newest tech war in China has begun.
The opening of Tencent’s online WeBank earlier this year was attended by Premier Le Keqiang. Smartphone maker Xiaomi just announced a new money market fund that triples the yield you could get at a state-owned bank. And Alibaba Group Holdings Ltd’s finance affiliate said yesterday it expects its online bank to open sometime in June.
The most important part of their report is this:
Online banks are a new thing in China, and tech giants including Alibaba, Tencent Holdings Tencent Holdings Ltd, Baidu Baidu Inc. and Xiaomi have all worked to secure banking licenses in order to take on the country’s stodgy big four state-owned banks that are known for paying low rates and offering few investment options for average customers.
And the most important part of that is the second part of the sentence. Why do the big four banks offer such lousy interest rates and so few products?
This is actually what is known in the economic jargon as “financial repression”. China doesn’t have much in the way of a social security net. Pensions and health care have to be, largely at the very least if not in full, paid for out of personal savings. Thus the savings rate in the economy is just massive: some years as much as 50% of all GDP is saved (by contrast, for the US it’s about 8% this year and that’s a strong rise in recent years). The financial repression part means that the government deliberately insists that savers shouldn’t have all that many decent places to put such money. The interest paid on bank deposits is controlled by law and is almost always less than the inflation rate. Savers thus lose money by leaving it in the bank.
The point of this is to give those banks a huge cheap deposit rate so that they can lend money to the State Owned Enterprises (SOEs) and that’s what they do, and they lend to them very cheaply. Purely private sector businesses don’t really get access to those big four bank loans and thus labour under a competitive disadvantage.
What Alibaba, Tencent and the rest are doing is arbitraging around this system. They’re collecting those individial deposits and then putting them into money market funds. And money market funds are where those private sector industries can gain short term finance. As they’re shut out of the cheap big bank money they quite naturally pay rather more to the money market funds.
It’s entirely true that money market funds exist in other nations as well. But none of the fully industrialised nations have that same financial repression: so the differences in prices and returns aren’t as stark.
So, we’ve got a deliberate policy of fionancial repression, to channel cheap funds to the SOes. We’ve now got these internet companies deliberately arbitraging around that repression. Obviously, how successful they are at doing this in the longer term is going to depend on whether the Chinese government continues the repression or whether it continues to allow the arbitrage.
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New Post has been published on News From Banks | Banking and Investment Blog
New Post has been published on http://www.newsfrombanks.com/alibabas-online-bank-could-be-a-quick-hit-then-what.html
Alibaba's online bank could be a quick hit. Then what?
The newest tech war in China has begun.
The opening of Tencent’s online WeBank earlier this year was attended by Premier Le Keqiang. Smartphone maker Xiaomi just announced a new money market fund that triples the yield you could get at a state-owned bank. And Alibaba Group Holdings Ltd’s BABA finance affiliate said yesterday it expects its online bank to open sometime in June.
Online banks are a new thing in China, and tech giants including Alibaba, Tencent Holdings Ltd TCEHY , Baidu Inc. BIDU and Xiaomi have all worked to secure banking licenses in order to take on the country’s stodgy big four state-owned banks that are known for paying low rates and offering few investment options for average customers.
For Alibaba, a company that has blown through expectations at every level—driving eBay Inc. EBAY out of China; running the world’s largest e-commerce site; staging the world’s largest IPO—success in banking may come quickly, especially considering how ripe China’s banking industry is for some basic competition.
When McKinsey surveyed more than 3,000 Chinese last year, 70% said they’d be fine opening an online-only account. McKinsey also said the big four’s market share of retail banking was trending downward, dropping five percentage points from 2011 to 2014. The rise of peer-to-peer lending sites in China, of which there are now upwards of 1,000, are also indicative of the demand that exists outside the state-owned banks’ domain.
China’s is already the world’s largest P2P lending market, bigger than the US and UK markets (#2 and #3) combined, according to Wangdaizhijia (网贷之家)
Alibaba is already known as a financial services company within China. Its money market fund Yuebao was the first time many Chinese realized they had an easy option to double the yield of their savings account. Alibaba’s Alipay has also become a part of everyday life for many Chinese, who use it to pay for cabs, transfer money to friends, and settle bills at half a million merchants. In fact a large part of the success of Taobao and Tmall, Alibaba’s e-commerce forms, hinges on the Paypal-like system that is actually owned by an Alibaba affiliate company, Ant Financial, the same affiliate behind the online bank.
All banks have to start somewhere. But the obvious criticism of Alibaba’s bank is that it is not battle tested. The Economist pointed out last year that its money market fund Yuebao started reaching for yield as soon as interest rates fell, exposing holders to far greater risk than they had experienced early on.
Moreover, China’s stock markets and investment funds experience some of the greatest volatility among large markets. Just take the Shanghai stock market, which has risen 70% over the past six months. Volatility is the bane of bankers, especially when it’s coupled with sudden asset withdrawals. Alibaba’s online bank, dominated by flighty retail investors, may quickly face markets that are easier for seasoned institutions to handle.
Separately yesterday, Alibaba’s Ant Financial and some partners announced they were constructing a new Chinese stock index. It will follow 100 online retailers across industries from household durables, to apparel to hotels and restaurants. The idea behind the new index called the CSI Taojin Big Data 100, Alibaba says, is to track the top companies in the country’s booming e-commerce sector and thereby glean insights into consumers.
While it’s true China does need to build out its offerings—currently there are only three stock indices in the country, compared to dozens in the U.S.—the Alibaba index includes some unusual inputs. For instance, the company said its index partners will analyze sales data from Alipay to update the index and add and drop companies on a monthly basis, says Ant Financial spokeswoman Miranda Shek. Alipay is the dominate online payments tool, but Tencent is quickly adding market share with its WeChat payment system. The Chinese tech world is already Balkanized because of Alibaba, Tencent, and Baidu are fighting for turf. Creating a stock index off only one company’s data extends that balkanization to the financial markets.
Moreover, the company says Alipay online sales data will be analyzed in real time to select the best performing companies for the index. Every month the index will look to switch to include the 100 top A-share companies in China. The S&P 500, by comparison, might replace 10 companies a year.
Detailed comparisons with western precedents, here as elsewhere, will of course only take you so far. China is far too busy being China for that. But fear and greed are universal forces, and the new entrants may not have too long to work out how they’ll cope with that titanic and never-ending struggle.
New Post has been published on News From Banks | Banking and Investment Blog
New Post has been published on http://www.newsfrombanks.com/alibabas-online-bank-could-be-a-quick-hit-then-what-630-am-edt.html
Alibaba's online bank could be a quick hit. Then what? 6:30 AM EDT
The newest tech war in China has begun.
The opening of Tencent’s online WeBank earlier this year was attended by Premier Le Keqiang. Smartphone maker Xiaomi just announced a new money market fund that triples the yield you could get at a state-owned bank. And Alibaba Group Holdings Ltd’s BABA finance affiliate said yesterday it expects its online bank to open sometime in June.
Online banks are a new thing in China, and tech giants including Alibaba, Tencent Holdings Ltd TCEHY , Baidu Inc. BIDU and Xiaomi have all worked to secure banking licenses in order to take on the country’s stodgy big four state-owned banks that are known for paying low rates and offering few investment options for average customers.
For Alibaba, a company that has blown through expectations at every level—driving eBay Inc. EBAY out of China; running the world’s largest e-commerce site; staging the world’s largest IPO—success in banking may come quickly, especially considering how ripe China’s banking industry is for some basic competition.
When McKinsey surveyed more than 3,000 Chinese last year, 70% said they’d be fine opening an online-only account. McKinsey also said the big four’s market share of retail banking was trending downward, dropping five percentage points from 2011 to 2014. The rise of peer-to-peer lending sites in China, of which there are now upwards of 1,000, are also indicative of the demand that exists outside the state-owned banks’ domain.
China’s is already the world’s largest P2P lending market, bigger than the US and UK markets (#2 and #3) combined, according to Wangdaizhijia (网贷之家)
Alibaba is already known as a financial services company within China. Its money market fund Yuebao was the first time many Chinese realized they had an easy option to double the yield of their savings account. Alibaba’s Alipay has also become a part of everyday life for many Chinese, who use it to pay for cabs, transfer money to friends, and settle bills at half a million merchants. In fact a large part of the success of Taobao and Tmall, Alibaba’s e-commerce forms, hinges on the Paypal-like system that is actually owned by an Alibaba affiliate company, Ant Financial, the same affiliate behind the online bank.
All banks have to start somewhere. But the obvious criticism of Alibaba’s bank is that it is not battle tested. The Economist pointed out last year that its money market fund Yuebao started reaching for yield as soon as interest rates fell, exposing holders to far greater risk than they had experienced early on.
Moreover, China’s stock markets and investment funds experience some of the greatest volatility among large markets. Just take the Shanghai stock market, which has risen 70% over the past six months. Volatility is the bane of bankers, especially when it’s coupled with sudden asset withdrawals. Alibaba’s online bank, dominated by flighty retail investors, may quickly face markets that are easier for seasoned institutions to handle.
Separately yesterday, Alibaba’s Ant Financial and some partners announced they were constructing a new Chinese stock index. It will follow 100 online retailers across industries from household durables, to apparel to hotels and restaurants. The idea behind the new index called the CSI Taojin Big Data 100, Alibaba says, is to track the top companies in the country’s booming e-commerce sector and thereby glean insights into consumers.
While it’s true China does need to build out its offerings—currently there are only three stock indices in the country, compared to dozens in the U.S.—the Alibaba index includes some unusual inputs. For instance, the company said its index partners will analyze sales data from Alipay to update the index and add and drop companies on a monthly basis, says Ant Financial spokeswoman Miranda Shek. Alipay is the dominate online payments tool, but Tencent is quickly adding market share with its WeChat payment system. The Chinese tech world is already Balkanized because of Alibaba, Tencent, and Baidu are fighting for turf. Creating a stock index off only one company’s data extends that balkanization to the financial markets.
Moreover, the company says Alipay online sales data will be analyzed in real time to select the best performing companies for the index. Every month the index will look to switch to include the 100 top A-share companies in China. The S&P 500, by comparison, might replace 10 companies a year.
Detailed comparisons with western precedents, here as elsewhere, will of course only take you so far. China is far too busy being China for that. But fear and greed are universal forces, and the new entrants may not have too long to work out how they’ll cope with that titanic and never-ending struggle.
New Post has been published on Day Today News
New Post has been published on http://www.daytodaynews.com/india-news/alibabas-earnings-more-than-double.html
Alibaba's Earnings More Than Double
Alibaba’s Earnings More Thаn Double
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