Retailer's finance arm fueled by new funds

Suning Finance, a subsidiary of Suning Commerce Group Co Ltd, has added 15 new strategic investors including Yun Feng Capital - founded by Jack Ma, chairman of Alibaba Group - raising 6.3 billion yuan ($962 million), a move to offer diversified finance services and upgrade its retail customer's shopping experiences.

At an estimated value of 27 billion yuan prior to the increased investment, the company has expanded its total value by 16.5 percent, offering shares to the new investors, a list that also includes GP Capital and China International Capital Corporation Limited (CICC).

After the new investment, Suning Commerce is still the controlling shareholder of Suning Finance.