By the end of 2013, Yuebao's assets under management crossed 100 billion yuan benchmark.
The firm is in the process of applying for a virtual banking license in Hong Kong, a third-party payment license in mainland China and a cross-border Chinese yuan license.
The banks have said they want to encourage the cross-border use of renminbi, or yuan, to rebalance the global economy.
The film subsequently crossed the 50-million-yuan-gross mark on 13 January 2012.
The plans may include measures to keep the yuan currency stable, increase checks on cross-border capital flows and stepping up policies to stabilise the domestic economy, the sources said.
McCartney wheeled our bikes into the slots, crossing paths with Chinese workers who had paid a few yuan to park their bikes there for the day.
In recent months China has allowed cross-border trade with some economies to be settled in yuan; it has raised quotas on share purchases by foreign institutional investors; and on September 28th it sold yuan-denominated government bonds in Hong Kong for the first time.
This bubble burst in June, and the spiralling market only came to rest after Beijing spent billions of yuan buying back stock and forcing state-owned industries to maintain cross-shareholdings.
The devaluation of the Chinese yuan, however, means Alibaba may face an uphill battle building its cross-border business next quarter because consumers will likely have to pay more for imported goods.
The currency was used to settle 600 billion yuan-worth of cross-border commerce in the second quarter of this year, up from less than 50 billion a year before (see chart 1).
