Ant Financial Plans to Help Devise New Century's Financial System
Yicai Global
/SOURCE : Yicai
Ant Financial Plans to Help Devise New Century's Financial System

(Yicai Global) Oct. 17 -- Jack Ma, the founder of China's Internet giant Alibaba Group Holding Co. [NYSE: BABA], cited the need yesterday to study, devise and develop a new financial system to adapt to the 21st and 22nd centuries, and expressed the hope that Ant Financial Services Group will assume this responsibility.

Jack Ma said the above in a speech he gave yesterday – marking the second anniversary of Ant Financial, an Internet financial services company affiliated with Alibaba. He said, "Our goal is to create a credit system that people in the future really need, and to aid in the establishment of a global finance and financial system in order to help more people in the world."

He went on to say that, "What China lacks is not financial institutions, but a sound credit system in which credit becomes fortunes and financial institutions support the 80 percent of people with no access to financial services. China is not the only one to lack one, so does the whole world. Ant Financial should remember that we engage in constructive innovation, just like Alibaba. We never defeat others to build ourselves, but rather strive to create novelties and cause more customers to recognize and support us."

He further stated that "Ant Financial should aim to achieve an important mission, which is to turn credit into fortunes and enrich those with integrity. With the development of the mobile Internet and the hard work of Ant Financial, we are on our way to building a fairer and more transparent society."

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