Oh Yes !!! Thank You Fly On The Wall....
Also, Found This On Forbes Asia !!!!!
China Merges Wal-Mart With Goldman Sachs in Alibaba
Yesterday, the China Banking Regulatory Commission approved a pilot of five privately owned banks – a move designed to introduce competition and private capital into the state-dominated banking sector while providing better financial services for small and medium sized enterprises (SMEs). In doing so, it may have just created the single most powerful company in the world.
Among the ten or so firms approved to set up banks (each bank must have two or more founding companies) was Alibaba, China’s largest e-commerce company. To give you a sense of Alibaba’s size, sales on its two main platforms, Taobao and Tmall, topped 35 billion yuan ($5.75 billion) on 11 November 2013. Alibaba’s sales on 11-11 (Singles Day) were nearly four times as large as the $1.46 billion worth of sales on Cyber Monday, the Monday after Thanksgiving.
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