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Home / South China Morning Post / Ant Group kicks off the overhaul of its fintech operations under the watchful eyes of China’s central bank and financial regulators

Ant Group kicks off the overhaul of its fintech operations under the watchful eyes of China’s central bank and financial regulators

Summary:
[unable to retrieve full-text content]Ant Group, controlled by Chinese billionaire Jack Ma, has set up a working group to rectify the business practices of the world’s largest financial technology group, under the close watch of China’s central bank and financial regulators.The Hangzhou-based group, which operates the ubiquitous Alipay electronic payments platform, will also draw up a timetable for the changes under the guidance of regulators, said Chen Yulu, a deputy governor of the People’s Bank of China (PBOC), during a Friday…

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[unable to retrieve full-text content]
Ant Group, controlled by Chinese billionaire Jack Ma, has set up a working group to rectify the business practices of the world’s largest financial technology group, under the close watch of China’s central bank and financial regulators.The Hangzhou-based group, which operates the ubiquitous Alipay electronic payments platform, will also draw up a timetable for the changes under the guidance of regulators, said Chen Yulu, a deputy governor of the People’s Bank of China (PBOC), during a Friday…

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