'Alipay will definitely go public'

Alibaba Group Holding Ltd's Alipay unit, part of the company's financial services arm, "will definitely go public", Executive Chairman Jack Ma said on Tuesday.

"The main goal of listing isn't for more money, but to let more people share in and be part of it," Ma said in an interview with China Central Television during the annual Singles' Day shopping festival, which was first adopted by Alibaba in 2009 to boost sales.

Ma did not give a timeline for when the unit might list, or specify whether it would be Alipay that lists or its parent - Zhejiang Ant Small and Micro Financial Services Group.

Alibaba has previously said it may take its financial services arm public which is not a part of New York-listed Alibaba Group.

Reuters