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Nikkei News: Ant will reorganize a large number of businesses under the umbrella structure of a financial holding company

2021-01-11T07:10:40.507Z


"Nihon Keizai Shimbun" quoted people familiar with the matter as saying that Ant Group will reorganize a large number of businesses under the umbrella structure of a financial holding company in accordance with the requirements of Chinese regulators to enhance transparency. It is reported that the Ant Group will


Financial News

Written by: Kwong Yueting

2021-01-11 14:56

Last update date: 2021-01-11 14:56

"Nihon Keizai Shimbun" quoted people familiar with the matter as saying that Ant Group will reorganize a large number of businesses under the umbrella structure of a financial holding company in accordance with the requirements of Chinese regulators to enhance transparency.

It is reported that Ant Group will be the parent company of the financial holding company, and Alibaba will move mutual fund and insurance sales and loan intermediary businesses to the company. The Chinese government has required all businesses that require financial licenses to be included under the company. , But it is not yet clear whether the mobile payment platform Alipay will be included.

The business restructuring may include Tianhong Fund Management Co., Ltd., the operator of the Yu'ebao Money Market Fund, and an online bank that provides online loans to small and medium-sized enterprises.

Bloomberg News reported earlier that Ant Group plans to reorganize its consumer credit business so that the company can continue to carry out its loan business nationwide under the new regulatory requirements.

Foreign media: Ant transfers some consumer credit assets to consumer finance companies to cope with compliance pressure

"WSJ": China Securities Regulatory Commission considers requiring Ant Group to share consumer credit data

The five major rectification requirements of Ant Group: China Banking and Insurance Regulatory Commission: It is recommended that the Internet platform "control and self-check

Ant Group Alibaba Jack Ma

Source: hk1

All news articles on 2021-01-11

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