Ant


Big-tech complains but complies as governments crack down 

Big-tech complains but complies as governments crack down 

A government committee led by President Xi Jinping said in mid-March that China would increase oversight of internet platforms to pace the digital economy’s quick development. The pledge follows fines, warnings and mandated service reductions aimed at major Chinese companies since November, when regulators mothballed fintech giant Ant Group’s $37 …

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Tech giants to face more scrutiny as China amends key laws

Tech giants to face more scrutiny as China amends key laws

(ATF) China’s top legislature said in a work report it will amend the anti-monopoly law – a move that analysts said could mean more scrutiny on both domestic tech giants like Jack Ma’s Alibaba and Ant Group, plus foreign players such as Elon Musk’s Tesla.China will amend the anti-monopoly law, …

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China tightens online lending rules in new blow to Ant Group

China tightens online lending rules in new blow to Ant Group

(ATF) China’s banking regulator has introduced more specific rules on online lending that analysts say will further cripple growth of fintech companies such as Ant Group.The circular issued on Saturday by the China Banking and Insurance Regulatory Commission (CBIRC) said partners that jointly offer loans with commercial banks must contribute …

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China scraps limits on credit card interest rates 

China scraps limits on credit card interest rates 

(ATF) China's central bank has removed the upper and lower limits on credit-card interest rates in a move seen by analysts as part of Beijing’s push for “demand-side reform” to boost consumption.The credit card issuers can decide their own interest rates for such overdrafts, People’s Bank of China said in …

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Hong Kong stocks battered by US sanctions

Hong Kong stocks battered by US sanctions

(ATF) Hong Kong: Asian markets retreated further after various governments announced fresh restrictions to curb another wave of the coronavirus as the global tally exceeded 38.5 million with 1.1 million deaths world-wide. Meanwhile, Hong Kong stocks underperformed after the US State Department named 10 individuals, including Hong Kong Chief Executive …

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Chinese regulators probing Ant IPO over 'conflict of interest'

Chinese regulators probing Ant IPO over 'conflict of interest'

China's securities regulator is probing a potential conflict of interest in fintech giant Ant Group's planned $35 billion stock listing, delaying approval for what could be the world's largest IPO, three people with direct knowledge of the matter said.The China Securities Regulatory Commission (CSRC) is looking into the role of …

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