The Chinese Securities Regulatory Commission has authorised leading Chinese online ecommerce company, Alibaba Group, to expand its funding division, by allowing it to lend up to five billion yuan (HK$6.27 billion) through its online loans business, which is designed to shake up an industry divided into heavily regulated state banks on the one hand and shady financing schemes on the other. Since starting its microloans business three years ago, Alibaba has extended more than 100 billion yuan of financing to more than 320,000 small online businesses and entrepreneurs.