Alibaba has continued acquisitions that sharpen its cutting edge ahead of an expected initial public offering (IPO) in the United States.
Jack Ma, founder of Alibaba, and partners will pay 6.5 billion yuan (about 1 billion U.S. dollars) for a 20 percent stake in Wasu Media Holding, a Wasu statement said on Tuesday evening.
About 66 percent of Chinese are planning to divert some proportion of their bank deposits to Internet finance products, according to new survey results.
Each morning when he wakes up, Yang Qingfeng opens an app on his mobile phone to check his earnings from Yu'ebao, China's most popular money market fund.
When summing up his business strategy, Lei Jun, founder of China's Xiaomi Technology, used a very political term: "mass line."
China will promote the healthy development of its burgeoning Internet finance, according to a government work report delivered by Premier Li Keqiang on Wednesday.
Online deposit products provided by Chinese technology firms have not only gotten on the nerves of big commercial banks, but drawn attention from the country's top legislators and political advisors.
President Xi Jinping will head the central Internet security and informatization leading group, according to a statement released after the first meeting of the group on Thursday.
China's securities regulator said on Friday that it would work with other agencies to issue a set of rules to govern the burgeoning Internet finance industry.
Alipay, a leading Chinese third-party payment platform, announced Saturday it has become the largest mobile payment provider in the world.
The Chinese tradition of giving gifts of red envelopes stuffed with cash went virtual and viral ahead of lunar new year as China's Internet moguls court the booming Internet finance market.
Experts have warned that the inaccessibility of many Chinese websites on Tuesday posed information safety risks and could have been exploited by hackers.
China's online population made an estimated loss of 149.15 billion yuan (24.42 billion U.S. dollars) in 2013 by falling victim to Internet-based scams, according to an Internet Society of China (ISC) survey on Wednesday.
A rush by China's big Internet companies, such as Alibaba and Baidu, into online finance in the second half of 2013 is altering the landscape of China's financial sector in a dramatic and unprecedented way, industry insiders have said.
Chinese e-commerce giant Alibaba Group took a major step into Internet finance on Friday by starting funds sales on its popular online shopping platform Taobao.
A senior Chinese Internet official on Wednesday called on major websites to become a force to "spread positive energy" and play a leading role in guiding public opinion.
Beijing is wooing Internet-based financial services such as online peer-to-peer lending and crowd financing to move their activities to its technological hub, promising perks from lower rents to cash rewards.
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