Ant Group is establishing a joint venture with state-backed companies that would oversee the data they collect from consumers. Photo: Bloomberg
Ant Group applies to China’s central bank to set up personal-credit scoring joint venture with state-backed partners
- The personal-credit scoring joint venture, Qiantang Credit, will be 35 per cent owned by a unit of Ant Group
- Tech firms are hiving off their consumer-credit data units in joint ventures with state-backed entities, which could help allay regulators’ concerns about their control over personal data
Ant Group is establishing a joint venture with state-backed companies that would oversee the data they collect from consumers. Photo: Bloomberg
