Alibaba loans get nod

The small-loan business arm of e-commerce giant Alibaba Group has obtained the China Securities Regulatory Commi­ssion's approval for its new asset-backed securitization plan, media reports said Thursday.

Through the plan, which is operated by brokerage firm Orient Securities Co, investors will be able to invest in loans that Alibaba has provided to other businesses on the company's online platform.

The plan took around five months for the securities watchdog to approve.