Ant Group ordered to devise business overhaul plan
Ant Group issued regulatory directive affecting Chinese regulators on December 27, 2020.
- Primary
- Ant Group
- Counterparty
- Chinese regulators
- Structure
- regulatory directive
- Date
- December 27, 2020
- Sub-sector
- Payments
Chinese regulators ordered Ant to overhaul business structure, including moving payments, lending, wealth management and insurance into a regulated holding company, capping growth.
Source: business-standard.com