Tencent, Alibaba, Xiaomi units win Hong Kong online banking licence

HONG KONG (Reuters) - Hong Kong's banking regulator has issued four more online-only banking licences to units of Alibaba, PingAn and smartphone maker Xiaomi, as well as to a JV involving Tencent, ICBC and Hillhouse Capital. These bring the number of so-called virtual banking licences issued by the Hong Kong Monetary Authority this year to eight. The introduction of online-only banking has the potential to be the biggest shake-up in years in the city's retail banking sector dominated by..