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Apart from JD Logistics, Liu said JD Finance, a financial subsidiary of JD, will apply for financial service licenses if there is a need in the future.

Another case that began to erode public confidence in charitable organizations involved a woman called Guo Meimei who in 2011 posted photos of her extravagant lifestyle online and claimed to work for the Red Cross Society of China - the country's major provider of humanitarian assistance. Although she was later found to have nothing to do with the organization, an investigation exposed management flaws and a lack of transparency.

App of the Week: SideCar ride-sharing service.

Ant also set the price for the Hong Kong part of the listing at HK (.32) per share. That roughly translates to similar sums of capital set to be raised from Shanghai.

Ant Financial of Alibaba invested 833 million yuan for a 51 percent stake in Cathay Insurance, a Taiwan-based property insurance company in July 2016.