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StanChart and China's Ant Financial sign 'Belt & Road' partnership

Reuters

LONDON (Reuters) - London-based bank Standard Chartered (STAN.L) and Ant Financial, the payment affiliate of Alibaba Group Holding Ltd (BABA.N) have agreed to collaborate in countries along China's 'Belt & Road' strategic initiative.

StanChart said on Monday the two companies will work to increase access to financial services in countries along the route, without giving details on how the partnership will work.

China's Belt and Road initiative aims to recreate the old Silk Road with massive infrastructure projects to connect China to Europe and beyond.

(Reporting by Lawrence White, editing by Louise Heavens)