The move is China's latest effort to enable the internationalisation of the yuan and protect its economy from capital outflows and geopolitical risks

Dealmakers hope that Cainiao's potential IPO, likely to be followed by more Alibaba units, could help revive sluggish fundraising activities in Hong Kong

Alibaba's shares have soared over 14% since the company's break-up plan announcement and $1.7bn in foreign cash has flowed into China's markets