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China’s Ant to become financial holding firm under enforced revamp

China’s Ant to become financial holding firm under enforced revamp

China’s Ant Group, a financial affiliate of e-commerce giant Alibaba Group Holding, will restructure as a financial holding company that could be regulated more like a bank, the country’s central bank said on Monday. The central bank also ordered Ant to cease anti-competitive behavior in its payments business and improve its risk management and corporate governance.

David
David
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