Standard Chartered, Ant Financial to Collaborate on China Initiative -Reuters

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Standard Chartered PLC (STAN.LN) and Ant Financial, formerly known as Alipay and an affiliate company of Alibaba Group Holding Ltd. (BABA) have agreed to collaborate in countries under China's international investment initiative, known as Belt & Road, Reuters reported.

--Standard Chartered said on Monday that the two companies will join forces, Reuters reported, in order to increase access to financial services in countries along the route of the initiative.

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--No details were given on how the parternship--which aims to recreate the Silk Road with massive infrastructure projects connecting China with Europe and beyond--will work, Reuters said.

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(END) Dow Jones Newswires

December 18, 2017 07:27 ET (12:27 GMT)