Ant headquarters in Hangzhou, China. The country’s regulators on Sunday underlined the fintech giant’s failure to meet regulatory requirements and its monopolistic behaviour. Photo: EPA-EFE
Ant headquarters in Hangzhou, China. The country’s regulators on Sunday underlined the fintech giant’s failure to meet regulatory requirements and its monopolistic behaviour. Photo: EPA-EFE
Ant Group

China orders Ant Group to rein in unfettered expansion as regulators put up fences around financial risks

  • Ant ignored regulatory requirements, engaged in regulatory arbitrage and squeezed peers by using its market-leading status, says Pan Gongsheng, the deputy governor of China’s central bank
  • Rectification an opportunity for Ant to ‘strengthen the foundation for our business to grow with full compliance’

Ant headquarters in Hangzhou, China. The country’s regulators on Sunday underlined the fintech giant’s failure to meet regulatory requirements and its monopolistic behaviour. Photo: EPA-EFE
Ant headquarters in Hangzhou, China. The country’s regulators on Sunday underlined the fintech giant’s failure to meet regulatory requirements and its monopolistic behaviour. Photo: EPA-EFE
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