Taobao, the online shopping platform owned by Chinese eCommerce conglomerate Alibaba, has begun managing funds sales, The Paypers reported on November 4.
The China Securities Regulatory Commission issued a no-action letter to Taobao last week, clearing the move. Alipay, another Alibaba company, will facilitate third-party payment solutions.
To learn more about Alibaba’s latest play, read the full story here.
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