Reuters revealed that China’s central bank has accepted Ant Group’s application to set up a financial holding company, a key step in finishing a year-long revamp of Jack Ma’s fintech business and reviving its stock market debut. The People’s Bank of China’s expected approval of the plan is the latest sign that Ant, a tech giant with financial businesses stretching from payments to wealth management, is poised to emerge from a regulatory crackdown.
The post Reuters reveals China’s central bank accepts Ant’s application for financial holding company appeared first on Reuters News Agency.
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