"This week, Alibaba is launching MYbank, an online lender that will tap into Chinese savers’ record $7.8 trillion of deposits and a banking revenue stream that’s forecast to double by 2020.
Banks have been striking back by pushing into the business Ma pioneered in China, online malls. The moves are blurring the lines between banking and e-commerce as China’s government continues encouraging competition in the finance industry and as Chinese increasingly use computers and mobile phones to bank and shop."
Gloves Off in China as Banks, Alibaba Invade Each Other’s Turf
is my attempt to share (via this website as well as twitter) relevant finance stories from Asia that I find interesting (on a daily basis).