Ant Group required to establish financial holding company by regulators
Ant Group Co Ltd issued regulatory directive to establish financial holding company affecting People's Bank of China on December 29, 2020.
- Primary
- Ant Group Co Ltd
- Counterparty
- People's Bank of China
- Structure
- regulatory directive to establish financial holding company
- Date
- December 29, 2020
- Sub-sector
- Lending Tech (Consumer)
Chinese regulators mandate Ant fold consumer lending, wealth management, and insurance into regulated holding company structure following halted IPO.
Source: leaderpost.com