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Jack Ma urges financial regulation reform on eve of Ant Group’s ‘biggest IPO in history’

Summary:
[unable to retrieve full-text content]Jack Ma, the Chinese billionaire behind Alibaba and Ant Group, has questioned whether international financial regulations are suitable for the Chinese economy and suggested traditional banks should change their “pawnshop” operating model.Ma, who has retired from all his corporate roles but remains the face of Alibaba and Ant, told a financial forum in Shanghai that Beijing’s emphasis on “preventing systemic financial risks” may have missed the point, while the existing regulatory framework,…

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[unable to retrieve full-text content]
Jack Ma, the Chinese billionaire behind Alibaba and Ant Group, has questioned whether international financial regulations are suitable for the Chinese economy and suggested traditional banks should change their “pawnshop” operating model.Ma, who has retired from all his corporate roles but remains the face of Alibaba and Ant, told a financial forum in Shanghai that Beijing’s emphasis on “preventing systemic financial risks” may have missed the point, while the existing regulatory framework,…

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