Skip to main content

China has asked banks and businesses to reveal any ties to Jack Ma's Ant Group

21 February - News reported on Monday that Chinese authorities have ordered state-owned companies and banks to re-examine their financial exposure and other ties to Ant Group Co Ltd (688688.SS), citing people familiar with the subject.

Many authorities, including the China Banking and Insurance Regulatory Commission, urged institutions to look into all of their exposure to the Jack Ma-controlled fintech business, its subsidiaries, and even its owners up until January, according to the article.

Ant Group, Alibaba Group Holding Ltd's (9988.HK) payment subsidiary, declined to comment.

According to the report, the endeavour is being led by the National Audit Office.

Ant was restructured extensively by China after its $37 billion first public offering was halted by regulators in late 2020.

Labels:

Comments

Post a Comment

Popular posts from this blog

Apple CEO Tim Cook says the company will support local humanitarian efforts in Ukraine.

Tim Cook tweeted that Apple is doing everything possible to assist team members in Ukraine and will also support local humanitarian efforts. A day after Russia invaded Ukraine, Apple CEO Tim Cook expressed concern about the ongoing crisis and called for peace in the country on February 25. He stated that the US tech behemoth is doing everything possible to assist team members in Ukraine, as well as supporting local humanitarian efforts. Cook is one of the first tech titans to publicly declare his support for Ukraine. According to Apple Insider, Apple does not have a retail presence in Ukraine, but the company does collaborate with authorised resellers in the country. Furthermore, according to the Kyiv Post, Apple registered an LLC in Kyiv, Ukraine's capital, last year. Apple has a corporate office in Moscow as well, which opened earlier this month. According to Apple Insider, Apple does not have a retail presence in Ukraine, but the company does collaborate with authorised reseller...
Post a Comment
Read more

Putin is suffering from 'roid fury' as a result of his cancer treatment with steroids.

His 'increasingly unstable' behaviour, bloated look, and ludicrous social alienation for guests, according to Western spies, is the outcome of medical therapy. According to intelligence sources, Vladimir Putin may have cancer, Parkinson's illness, or dementia. The 69-year-old despot's 'bloated face and neck' might be the result of long-term steroid usage. Putin's health has been questioned in recent months due to his looks, which has been described as "ashen and bloated" with a pale complexion in his most recent public appearances. According to intelligence sources, Vladimir Putin is suffering from dementia, Parkinson's disease, or 'roid rage' as a result of steroid treatment for cancer. Senior figures in the Five Eyes intelligence alliance – Australia, Canada, New Zealand, the United Kingdom, and the United States – believe there is a physiological explanation for Russian President Vladimir Putin's widely despised decision to invad...
Post a Comment
Read more

BitConnect's Founder Charged in $2.4 Billion Global Cryptocurrency Scheme

A federal grand jury in San Diego indicted BitConnect's founder today on charges of orchestrating a global Ponzi scheme. BitConnect is an alleged fraudulent cryptocurrency investment platform with a market capitalization of $3.4 billion at its peak. According to court documents, BitConnect's founder, Satish Kumbhani, 36, of Hemal, India, misled investors about BitConnect's "Lending Program." Under this programme, Kumbhani and his co-conspirators promoted BitConnect's alleged proprietary technology, known as the "BitConnect Trading Bot" and "Volatility Software," as being capable of generating substantial profits and guaranteed returns by trading on the volatility of cryptocurrency exchange markets with investors' money. However, according to the indictment, BitConnect operated as a Ponzi scheme, paying earlier BitConnect investors with money from later investors. Kumbhani and his co-conspirators raised a total of $2.4 billion from inves...
Post a Comment
Read more