An Alipay sign at an Ant Group building in Shanghai, July 28, 2022. Photo: Bloomberg
An Alipay sign at an Ant Group building in Shanghai, July 28, 2022. Photo: Bloomberg
Ant Group

How the tight bond between Alibaba and Ant has weakened under regulatory pressure from Beijing

  • Alibaba said in its annual report that the two companies agreed to terminate their data sharing agreement on July 25, and will instead negotiate on a case-by-case basis
  • The move away from Ant comes after Alibaba experienced a difficult year, with stagnant revenue growth, capital market risks, as well as national security issues

An Alipay sign at an Ant Group building in Shanghai, July 28, 2022. Photo: Bloomberg
An Alipay sign at an Ant Group building in Shanghai, July 28, 2022. Photo: Bloomberg
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