Tag: Ant Financial

alibaba

Updates on Alibaba

Alibaba continues to grow as it strengthens its financial reach in regards to the insurance industry. Alibaba Group Holding Ltd. plans to invest 1.2 billion yuan or $188 million into a Chinese unit of Cathay Financial Holding Co. According to an official statement released on Monday Zhejiang Ant Small & Micro Financial Services Group Co. is buying a 60% stake in Cathay Insurance Co. The two companies plan on working together in order to grow and increase cooperation with regards to cloud computing. Read more →