Internet bank 'MYbank' opens in Hangzhou

Ma Yun (3rd from right), founder and chairman of China's e-commerce giant Alibaba, attends 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]