A digital payment company spun off from tech titan Alibaba that was due to sell shares in Shanghai and Hong Kong this week.

But China dramatically blocked the listing at the last minute Necessary.

Reasonable on legal was the assessment off.

The move by one expert in a top Chinese state backed newspaper on Wednesday.

In recent years has been more public discussions in China about tech firms moving into the financial space with worries over fair competition and data privacy.

Jack Mount, the I P O.

Was put on ice after a meeting between ants, billionaire founder Jack Ma and China's financial regulators.

Reuters sources Samar and his top executives were told their online lending business would face tighter scrutiny at an event last month attended by Chinese regulators.

Mar disparaged global financial regulation, a person with knowledge of the matter told Reuters.

The ant believes Mars public criticism put him in officials Crosshairs, the executive director of Kingston Financial Group, Dickie Wong said on Wednesday the case was a reminder off Beijing's influence over Chinese companies.

Now we have Thio calculate those regulation risk because when Chinese officials say you cannot do this or you cannot do that, definitely you cannot do so.

This is some kind of risk that we have to re calculate.

The topic and groups AIPO suspended was trending on China's Twitter like Weibo on Wednesday with more than half a million discussions.

Some said that while regulators had closed one eye toe ants rapid growth in the past, it's AIPO meant they no longer could, since the company's risks would shift towards shareholders on the public and has apologized to investors and pledged to work closely with regulators.