Jack Ma’s Ant started as a payments processor for Alibaba before veering into other financial services, and now China is investigating both firms. ( read original story …)
Tagged By business
That Decoupling Sound: China, the US and a Year of CBDCs
China and the U.S. faced off over trade and technology bans. But the battler for monetary hegemony has only just begun. ( read original story …)
China stocks climb on upbeat industrial profit data
China stocks rose on Monday, helped by strong industrial profit data that underscored a continued recovery in the world’s second-largest economy. ** The CSI300 index rose 0.7% to 5,078.60 by the end … ( read…
China’s auto imports, exports grow further in November
China’s automobile imports and exports expanded further in November, according to data provided by the China Association of Automobile Manufacturers (CAAM). Last month, the import and export volume of … ( read original story …)
China tells Ant Group to quickly overhaul its business
China has ordered the country’s biggest online payments platform to overhaul large swaths of its operations as regulators continue their efforts to rein in some of the most powerful Chinese internet … ( read original…
End the China economic delusion
It was once an accepted truth that China’s increased economic trade and participation in international bodies such as the World Trade Organization would benefit everyone. ( read original story …)
China Orders Ant Group To Return To Online Payment Roots
Chinese fintech giant Ant Group has been ordered by regulators to drastically change its business model and return to its roots as a payment services provider, as the state squeeze continues on the … (…
IPOs will remain strong for China A-shares and Hong Kong markets in 2021: CIO
There is huge demand from domestic and institutional investors in the new economy sector looking for initial public listings, says William Ma of Noah Holdings (Hong Kong). ( read original story …)
How China’s swift recovery boosted it to fashion capital status
The past five years have seen countless luxury brands scrambling over each other to get into the lucrative fashion market of China, partnering with Chinese companies like Tmall. But recently … ( read original story…
Markets shock in 2020 gives way to IPO boom
Proceeds in Asia, at $73.4bn, would have been far higher if payment company Ant Group had not halted its blockbuster $37bn IPO after it ran afoul of Chinese regulators. Ant’s absence handed … ( read…
Ant and Beijing begin delicate, dangerous dance
The People’s Bank of China has called for the Ant Group to rectify financial regulatory violations, according to a statement released on Dec. 27. PBOC Vice Governor Pan Gongsheng said that Ant … ( read…
China highly criticizes Ant Group, tells company to switch back to its mainstay payments business
Chinese financial regulators moved to rein in Ant Group Co., the financial-technology giant controlled by billionaire Jack Ma, telling it to switch its focus back to its mainstay payments business and … ( read original…
China’s Digital Yuan Trial Sees Spending For Retail, Ridesharing And More
A second digital yuan trial by the People’s Bank of China has ended with spending on numerous things from retail to grocery to ridesharing. ( read original story …)
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