In today's podcast, Alibaba Group founder and chairman Jack Ma says he wants Alipay to go public in China.

Alipay, Alibaba's finance services arm and the country's main online payment processor, is aiming for a domestic stock debut according to the company's chair Jack Ma. As part of Alibaba's strategy to go global, Jack Ma said in an interview with state broadcaster CCTV that Alipay would list on a domestic stock exchange. He made the comments right before the e-commerce giant announced that its “Singles Day” sales throughits website on the world's biggest shopping holiday – November 11 – beat last year's record by nearly 60percent. Alipay is owned by Ant Financial Services Group, a company controlled by Ma which was establishedlast month to pursue Alibaba's ambition of developing financial services. Jing Xiandong, Ant Financial's chief financial officer, told Caixin earlier that Alipay handles an average of 1 billion payment transactions every day and can clear transactions for 100 million individual accounts in half an hour. It cooperateswith more than 200 financial institutions and has about 300 million active users, he said.

For Caixin Online, this is Diana Bates

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