Alibaba is at risk of losing the dominant position of its electronic payment platform in its home market, as China's central bank pushes lenders to launch a joint rival platform to compete directly with its AliPay.
The development could weaken Alibaba, which runs the world's largest online trading platform for businesses, at a time when it is trying to expand internationally.
According to people close to the talks, the People's Bank of China has started working with Chinese banks to set up a platform that would help clear online payments between banks.
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