Internet bank 'MYbank' opens in Hangzhou

Jing Xiandong (L), chairman of MYbank, receives financial business operation permit at the opening ceremony of MYbank in Hangzhou, capital of East China's Zhejiang province, June 25, 2105. Alibaba-backed Internet bank "MYbank" opened on Thursday in Hangzhou. MYbank has a registered capital of 4 billion yuan ($655 million). The bank will center on financial services for small and micro business, as well as online consumers through the Internet platform. [Photo/Xinhua]