To strengthen Hong Kong's position as a global financial hub, Alibaba Group Holding announced on Wednesday that it has raised US$5 billion through a multi-tranche dual-currency bond issue. Alibaba, the company that owns the South China Morning Post and is based in Hangzhou, announced a bond offering plan on Monday. In response, the company issued 17 billion yuan (US$2.35 billion) in offshore yuan-denominated notes and US$2.65 billion in US dollar-denominated notes.