Ant Group operates China’s largest mobile payments app Alipay. Photo: Bloomberg
Ant Group operates China’s largest mobile payments app Alipay. Photo: Bloomberg
Ant Group

Ant Group removes small banks’ online deposit products from its platform as it toes the line with China’s new fintech rules

  • Small and medium-sized banks across China have used digital platforms as a way of attracting deposits
  • PBOC official worries such online-deposit products have high returns and low thresholds for accepting customers

Topic |   Ant Group
Ant Group operates China’s largest mobile payments app Alipay. Photo: Bloomberg
Ant Group operates China’s largest mobile payments app Alipay. Photo: Bloomberg
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