If the Chinese government is big enough to build Alibaba, the answer is yes. Alibaba Payment and Digital Finance platform operates in many Asian countries, including China and India. Through this Alibaba has more than 100 crore customer and customer data on the site.
Credit service for the Alipay site
This alibi site currently keeps all of its customer data in China and decides who, how and when to lend. The Chinese government has decided to divest the credit services business of the company, which dominates the digital credit segment.
credit scoring alliance company
A credit scoring consortium is also to be formed, which will be a joint venture between the public data storage company and the credit service company. It has been reported that the Chinese state-owned enterprises of the alliance are planning to invest large sums and acquire a large stake in the company.
Investing in government agencies
Through this structure, Alibaba will be wholly controlled by the Chinese government, and Ant Financial and Zhejiang Tourism Investment Group will each hold a 35 per cent stake in the newly formed alliance, while Hangzhou Finance, Investment Group and Zhejiang Electronic Port will each hold a 5 per cent stake. All the companies mentioned here are government controlled companies.
It is noteworthy that the Chinese government has also brought Alibaba under its control, as well as all the alibi data currently held by the Chinese government.