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Ant Financial Services Group, Alibaba Group Holding's finance affiliate, plans to adopt a partnership structure in an attempt to enable top management to maintain control of its board after an IPO, Bloomberg reported on Tuesday.


Unnamed sources familiar with the matter were quoted by the report as saying that Ant Financial's partners will nominate a majority of directors similar to how its parent company Alibaba did before it got listed on the New York bourse in 2014.


Among Alibaba's current 30 partners, seven of them have executive posts at Ant Financial, according to Bloomberg.


A PR representative with Ant Financial refused to comment on this when contacted by the Global Times late Tuesday, instead said that they have no specific plan for an IPO yet.


Ant Financial Harmon Killebrew Twins Jersey , which operates China's biggest third-party online payment tool Alipay, was valued at over $56.5 billion by Bloomberg analysts' estimates.


According to a report released by Beijing-based market research consultancy iResearch on March 5, Alipay led China's online payment market by transaction in 2014, with a 49.6 percent share. The report also revealed that the transaction volumes of China's online payments reached over 8 trillion yuan ($1.28 trillion) in 2014, up 50.3 percent year-on-year.


Chinese Internet finance, including online payment, is a promising market Byron Buxton Twins Jersey , but has raised consumers' concern over its safety due to a lack of sufficient regulations, said analysts.


Pan Gongsheng, deputy governor of People's Bank of China, the central bank, said during the annual sessions of the national legislative and consultative bodies that regulations and rules for Internet finance are expected to come out in the first half of this year.


Also, on the weekend, Jack Ma Yun Miguel Sano Twins Jersey , founder of Alibaba, gave a glimpse of the future when he demonstrated a new e-payment system using facial recognition at the CeBIT IT fair in Germany.


Criss-crossing the stage in the style of a Silicon Valley pioneer late Sunday, Ma showed off the technology that uses facial recognition from a smartphone camera selfie as a digital signature, saying he had just used it to send a gift to the mayor of the event's host city of Hanover.


Ma, a former English teacher, is known for thinking big, and at the CeBIT Brian Dozier Twins Jersey , which kicked off on Sunday, he was the keynote speaker, addressing an audience that included German Chancellor Angela Merkel.


Like many other companies from the event's official partner country China, Alibaba - flush with cash from a massive stock listing - is looking beyond the borders of its huge domestic market.

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