Ant Group ordered to restructure under financial holding company model
Ant Group issued regulatory restructuring order affecting China's central bank on December 29, 2020.
- Primary
- Ant Group
- Counterparty
- China's central bank
- Structure
- regulatory restructuring order
- Date
- December 29, 2020
- Sub-sector
- Lending Tech (Consumer)
Chinese regulators ordered Ant to reorganize financial units into a holding company structure subject to capital restrictions and co-funding requirements for consumer lending.
Source: aljazeera.com