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

Topic |   Ant Group
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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