SOON: Plans for Migrating Ant Group’s Businesses into a Holding Company
Posted on 02/03/2021
Ant Group, formerly known as Ant Financial and Alipay, is an affiliate company of the Alibaba Group Holding Ltd (founded by Jack Ma). The Chinese government has a plan to migrate all of Ant Group’s businesses into a financial holding company. This would also include Ant Group’s technology offerings in silos such as blockchain and food delivery.
Chinese regulators have written up detailed capital requirements for Ant Group. The fintech giant will likely be under watch from the People’s Bank of China.