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Ant’s Financial License Is in Limbo as China Shakes Up Regulatory System
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By Jing Yang and Raffaele HuangMay 5, 2023 5:30 am ETJack Ma, co-founder of Alibaba Group, returned to mainland China after spending roughly a year overseas. The trip home comes as Beijing eased up on a tech crackdown that hit confidence among private businesses. Photo: Hangzhou Yungu School Chinese fintech giant Ant Group’s transformation into a fully regulated company has been held up by a reshuffle of China’s financial-regulatory system, according to people familiar with the matter. Ant, a mobile-payments provider that used to be one of the world’s most valuable private companies, embarked on a major restructuring in late 2020 after its blockbuster initial public offerings in Hong Kong and Shanghai were scuttled by Chinese authorities. What's News Warren Buffett Retains Sense of Optimism at Berkshire’s Annual Meeting3 hours ago  Google Retools to Stay at the Top of Search19 hours ago  Proud Boys Step Up Activity After Jan. 6 Attack, Despite Criminal Convictions14 hours ago What's NewsWarren Buffett Retains Sense of Optimism at Berkshire’s Annual Meeting3 hours ago Google Retools to Stay at the Top of Search19 hours ago Proud Boys Step Up Activity After Jan. 6 Attack, Despite Criminal Convictions14 hours ago The Regional Bank Sell-Off Visualized14 hours ago  The Journalists Risking Their Freedom to Keep Reporting From Russia11 hours ago  Who Are the Names in Jeffrey Epstein’s Calendar?13 hours ago  A Soldier’s View of the Battlefields and Trenches of Bakhmut9 hours ago  King Charles III Is Crowned in Lavish Coronation Ceremony3 hours ago  King Charles Inherits Bulging Royal Purse Thanks to Property Boom10 hours ago Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8  Continue reading your article witha WSJ subscription Subscribe NowAlready a subscriber? Sign In Sponsored OffersAmerican Eagle Outfitters: 15% off American Eagle promo code 2023Expedia: Exclusive Expedia coupon - Save 25% or more + Extra 8%Kohl's: Kohl's promo code: 30% off for Kohl's Rewards MembersOffice Depot & OfficeMax: One Link, All Office Depot CouponsAT&T: Get a $50 reward card using this AT&T promo codeTurboTax: Save up to $15 with TurboTax coupon May 2023 |
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