The Ant Group logo is seen at the company’s headquarters in Hangzhou, China, Aug. 2, 2021. Photo: Bloomberg
The Ant Group logo is seen at the company’s headquarters in Hangzhou, China, Aug. 2, 2021. Photo: Bloomberg
Ant Group

China’s Ant Group to close world’s largest mutual aid platform next month amid regulatory scrutiny

  • Since its launch in 2018, Xianghubao accumulated more than 100 million registered users, making it the world’s largest mutual aid platform
  • Search engine Baidu closed its mutual insurance platform in August 2020 after signing up only 500,000 members in the first year

The Ant Group logo is seen at the company’s headquarters in Hangzhou, China, Aug. 2, 2021. Photo: Bloomberg
The Ant Group logo is seen at the company’s headquarters in Hangzhou, China, Aug. 2, 2021. Photo: Bloomberg
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