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  • China's ant group was set to make the world's largest ever stock market debut, backed by billionaire Jack Marr, is $37 billion listing would have surpassed Saudi Aramco's record float of $29.4 billion last year.

  • But the I P O has been suspended.

  • In a dramatic move following a recent interview, Chinese regulators held with mark and top executives Let's take a step back and look at how aunt grew into the world's largest unicorn, which powers China's biggest online payments platform, were found in China but were built for the world.

  • The Hangzhou based company is a spin off from Mars Alibaba Group after launching in 2000 and four as a payments process, ER, its core alipay app has grown to accumulate more than 730 million monthly users in China.

  • Aunt has built an empire connecting borrowers and lenders securing short term loans.

  • Within minutes, AI powers its range of products from insurance toe wealth management to its cash cow consumer lending business Aunt benefits from the far richer valuations typically afforded to tech firms than to financial institutions.

  • On there lies a core conundrum for investors and regulators What exactly is Aunt Financial colossus or tech giant Mahrous?

  • Certainly pushing for the latter.

  • He's keen to tout it as a tech vendor for financial firms, labeling it as a tech Finn rather than a fin tech outfit.

  • Ants Finn to Tech Shift Began two or three years ago as Chinese regulators heightened scrutiny to control financial risks, skeptics say regulators are unlikely to turn down the heat on a company that only this year changed its name from ant financial.

  • They consider ants business model of matching borrowers and lenders.

  • A financial service on Monday, March and to top executives were called into a rare meeting with China's top regulators.

China's ant group was set to make the world's largest ever stock market debut, backed by billionaire Jack Marr, is $37 billion listing would have surpassed Saudi Aramco's record float of $29.4 billion last year.

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