China’s central bank will soon have access to private credit information of hundreds of millions of users of Ant Group‘s online credit service, in a move signaling more regulatory oversight of the financial technology sector. Huabei, Ant Group’s credit service, said in a statement that consumer credit data it has collected will be included in … Read more
China’s largest fintech conglomerate Ant Group is likely to sell at least 5% of its 30.33% stake in Paytm parent One97 Communications before the latter’s Initial Public Offering (IPO) slated for November, sources aware of the matter told ET. This is because Paytm wants to bring down Ant’s stake to below 25% to comply with … Read more
In 2003, a rural businessman named Sun Dawu was arrested after defying the Chinese government. A group of reform-minded officials, journalists, lawyers and academics waged a successful campaign to free him. In 2020, the Chinese government went after Sun after another bout of defiance. But China has changed, and the outcome so far has been … Read more
By Shuli Ren Jack Ma is a very busy man. China’s richest man has been busy launching the world’s biggest IPO. He has been busy preparing for Alibaba Group Holding Ltd.’s grandest four-day Double Eleven shopping extravaganza. And yet two weeks ago, Ma somehow found the time to opine on China’s banking system at a … Read more