Date
26 April 2018

Alibaba unit extends 20.8 bln yuan of loans in 3Q

Alibaba’s micro lending unit extended 20.8 billion yuan (US$3.4 billion) of loans to about 303,000 small and microcompanies in the third quarter, news portal China.com.cn reported Thursday. Shanghai, Shenzhen, Guangzhou and Hangzhou were the top four cities in which enterprises received credit worth 2.7 billion yuan, 2.1 billion yuan, 2.1 billion yuan and 1.6 billion yuan, respectively, the report said.

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