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  • China is turning up the heat on the country's tech giant.

  • Alibaba is lending arm on group on billionaire Jack Mar.

  • On Sunday, the central bank announced they had asked Aunt to shake up its lending and consumer finance operations.

  • This is just the latest volley from Beijing aimed at bringing Mars sprawling financial empire to heal after he publicly criticized the group's regulatory system in October for stifling innovation.

  • Those comments are said to have prompted Chinese regulators to suspend ants AIPO in Hong Kong and Shanghai in November.

  • Aunt was launched in 2000 and four and is China's biggest digital payments APP with some 730 million monthly users over time is expanded into loans, insurance and more, and at $37 billion its I P O had been set to be the world's largest stock market debut.

  • Just last week, Chinese authorities also launched an anti trust investigation into Mars e commerce platform Alibaba on the latest measures and said in a statement it would establish a rectification working group and fully implement regulatory requirements.

  • Representatives from the company met officials from the People's Bank of China over the weekend.

China is turning up the heat on the country's tech giant.

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B1 china alibaba group lending regulatory aunt

China exerts more pressure on Ant Group

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    林宜悉 posted on 2020/12/30
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