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Jack Ma and Pony Ma are also shareholders of China Taiping Insurance Holdings, as the two took part in the insurer's $1.7 billion private share sale in May.
As Alibaba and Tencent both eye Internet finance and extend their footprint to private banks, insurance sector is expected to be the next battle front between the companies, said analysts.
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An office of China Taiping Insurance Holding in Chongqing city, China, July 18, 2009. [Photo/IC] |
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