Ant Financial will create a joint venture this year with CK Hutchison Holdings Ltd to operate its payment app in Hong Kong, ending Ant’s solo management of the service; Ant holds an electronic payments license in Hong Kong, which allowed it to launch its payment services without a local partner; the venture will allow Ant’s Alipay to offer services via companies under CK Hutchison; the companies expect the venture to be completed by the end of the year. Source
