Two years after their launch, new online banks linked to internet titans Alibaba and Tencent have doled out more than 300 billion yuan by targeting millions of entrepreneurs with "microscopic" loans, often on terms of just days, reports Caixin Global. The online banks operate under a Beijing pilot program to bring private money into China's financial sector. Tencent Holdings Ltd. was given the first license in early 2015. Since then, WeBank, which is 30 per cent owned by Tencent, has lent out more than 200 billion yuan, with an average loan size of just 8,000 yuan, according to Caixin.