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| kafa88 | 13 Sep 2021 - 09:22:29 |
| 79 Posts |
Beijing plans to break up Ant Group's Alipay and create a separate app for the fintech giant's lending business, according to the Financial Times on Monday.Regulators previously ordered Ant to separate AliPay's business from its Huabei and Jiebei lending businesses. They now want the lending business to be split into independent apps as well, according to the FT. Thorough financial planning If the slotxo player has a budget or not much capital It is strongly advised to allocate and manage the funds before that. as well as planning to manage the sum of money thoroughly How many bets must be placed? When to place a bet, it will be worth it. For this reason, all online slots players There must be a slot technique. in order to manage capital As per the plan, Ant will replace user data that supports its loan decision to a new credit-scoring joint venture, FT reported, citing people familiar with the process. The report said the joint venture would be part of the state.Hong Kong-listed shares of Alibaba, an e-commerce subsidiary of Ant Group, fell more than 4 percent on Monday afternoon after the FT reported. The decline hit the broader Chinese tech sector thanks to the Hang Seng Tech Index. It was down nearly 3 percent, with shares of other Chinese tech heavyweights such as Tencent and Meituan also losing out.Reuters said in early September that several state-owned enterprises were preparing to take a majority stake in the credit scoring venture, with Ant and Zhejiang Tourism Investment Group holding 35 percent each. Ant will not be the only online lender in China to be affected by the new rules, according to the FT.Recent developments highlight more challenges for Ant's business. The company's planned $34.5 billion IPO in November failed after it was flagged of regulatory discrepancies.Months of regulatory crackdowns on the Chinese tech giant follow. And Beijing has introduced a number of rules on antitrust and security and data protection. in April Regulators have ordered Ant Group to improve its business. including restructuring into a financial holding company as well as creating Greater differentiation between the Alipay payment app and its credit products.that same month Chinese regulators have also slapped Alibaba with a fine of 18.23 billion yuan (about $2.8 billion) in the tech giant's antitrust investigation. due to being accused of illegally occupying the market |
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