As Global Finance went to press, Alibaba was trying to convince regulators in Hong Kong to bend the rules to allow it to use a partnership structure for its planned IPO. Meanwhile, Alibaba extended the drawdown period of an $8 billion loan from January 30, 2014, to the end of the year, giving it more time to decide on its public offering. Company officials said they expect Alibaba to overtake Wal-Mart as the world's biggest retailer by 2016.