17:49 GMT +316 December 2019
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    A file photo of the  headquarters of Chinese e-commerce giant Alibaba Group in Hangzhou city, east Chinas Zhejiang province

    China's Alibaba Discusses Possibility of Lending to Russian Small Businesses

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    The financial division of China's e-commerce giant Alibaba, Ant Financial Services Group, is in talks with the Russian banks on the possibility of lending to Russian small businesses, the company's head of foreign business Jia Han said.

    BEIJING (Sputnik) — At present, Ant Financial provides services for crediting small business in China, amounting to an average of $5,000.

    "We are currently considering such a possibility for Russia as well. We are constantly in contact with the Russian partner-banks, and this issue is also being discussed," Jia told RIA Novosti.

    Ant Financial has already issued loans to 2 million small and medium-sized businesses in China. The company implements two programs, namely lending to small and medium-sized businesses, and financial support to farmers.

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