Last Firday, China Banking Regulatory Commission published the news about the first round private bank list, which including the Shenzhen Webank (which Tencent takes 30% share of it), Wenzhou People and Commercial Bank and Tianjin Jincheng Bank. The one was missing unexpectedly, is Alibaba, which got the most expectation before.

This article is written by Hanna Chen, analyst consultant of L'Atelier Shanghai Office

May 9th 2014 is the 10th anniversary of Alipay, the CEO of Ali Micro-finance Group announced the Ali future strategy – build the open internet finance ecosystem. 
After the launch of the Zhaocaibao and the 3.3 billion RMB investment in hundsun technology inc., Jack Ma’s financial map was almost finished: Yuebao is like the deposit business, hundsun technology ensure the operation system and efficiency, Zhaocaibao is the mall selling the investment products from different financial companies, and Ali also has its own micro-loan platform and pure online insurance – Zhongan. 
As for micro-loan, Ali already lent 130 billion RMB from the end of 2013 with the 0.9% default rate. In July, Alibaba cooperated with BOC, CMB, CCB, PINGAN, PSBC, BOS, CIB. Small and medium enterprises could get the unsecured loan (maximum is 10 million RMB) from these banks through Ali’s platform. 
With the rich experience in internet finance, Alibaba gained its strength in risk control, credit-checking, cloud services and big data. Even without the bank license, Alibaba could do well even better in the field, since it’s still out of the regulation. 
At the same time, what Ali really wants is doing the pure online banking, it’s also the reason they give not applying the private banking license. It’s easily made us curious about the possibility of digital banking with no offline store and services. But what we more curious about is what Jack Ma plan to do for the next step, they things Ali could do beyond the normal banks.