What is the relationship between Alipay's parent company Ant Financial and Alibaba?

The predecessor of Ant Financial Services is Alipay, which belongs to Zhejiang Alibaba E-Commerce Co., Ltd. and Ma Yun, but Zhejiang Alibaba and Alibaba Group have no affiliation. You can understand that Ant Financial or Zhejiang Ali is a domestic private enterprise, while Alibaba Group is a joint venture or even a foreign-funded enterprise. Details can be found in Alipay activities.