ant group News

Alibaba’s Ant Receives Chinese Government Nod to Roll Out AI Services

Ant Group Co., the fintech affiliate of Alibaba Group Holding Ltd., received approval from the Chinese government to roll out products powered by its large language model Bailing to the public. Bailing will be applied to Ant’s various services and …

Ant-Backed Rural Lender and Micro-Insurance Firm, Chongho, Eyes $500M HK IPO

Chongho Bridge Credit Agricultural Group Co., a Chinese rural bank that offers microcredit and micro-insurance to small businesses, is considering a Hong Kong initial public offering that could raise as much as $500 million, according to people familiar with the …

What’s Next for Ant Group After its Nearly $1B Fine?

The announcement of a nearly $1 billion fine by Chinese regulators on Ant Group has drawn a line under the fintech giant’s woes and given hope to investors that a regulatory crackdown on China’s broader technology sector is over. Ant’s …

Update: China Ends Ant Group’s Regulatory Revamp With Fine of $984M

Chinese authorities announced on Friday a 7.12 billion yuan ($984 million) fine for Ant Group, ending a years-long regulatory overhaul of the fintech company and marking a key step to concluding a crackdown on the country’s internet sector. China’s central …

China Expected to Cut Fine on Ant Group to About $700M: Sources

Chinese regulators are expected to fine Ant Group about a quarter less than the more than $1 billion initially planned and downgrade their charges against it, sources said, as they seek to end a years-long crackdown on marquee technology firms. …

Ant Group Founder to Give Up Control in Major Overhaul of Chinese Fintech Giant

Ant Group’s founder Jack Ma will give up control of the Chinese fintech giant in an overhaul that seeks to draw a line under a regulatory crackdown that was triggered soon after its mammoth stock market debut was scuppered two …

Chinese Regulators Approve Capital Raise of $1.5B for Ant Group

HONG KONG (AP) – Chinese regulators have said e-commerce giant Alibaba’s finance affiliate Ant Group can raise $1.5 billion for its consumer finance unit in an important step forward after the government called off a planned IPO two years ago …

China to Fine Ant Group More Than $1B as Regulatory Revamp Nears End: Sources

Chinese authorities are poised to impose a fine of more than $1 billion on Jack Ma’s Ant Group, said six sources with direct knowledge of the matter, setting the stage for ending the fintech company’s two-year long regulatory overhaul. The …

China Signals Ant’s Reemergence in Accepting Financial Holding Company Plan: Reuters

HONG KONG, June 17 (Reuters) – China’s central bank has accepted Ant Group’s application to set up a financial holding company, three people with knowledge of the matter said, a key step in finishing a year-long revamp of Jack Ma’s …

Beijing Gives Initial Green Light to Revive Ant Group’s IPO as Crackdown Eases: Sources

China’s central leadership has given billionaire Jack Ma’s Ant Group a tentative green light to revive its initial public offering (IPO), two sources with knowledge of the matter said, in the clearest sign yet Beijing is easing its crackdown on …