Ant Group

Platform Industry: ByteDance China company building

ByteDance says it will downsize FinTech business

China’s ByteDance, the owner of TikTok, has said that it would shrink its financial services unit and that it planned to sell its stock broking operations amid China’s ...

Ant Group

Chinese state firms to take big stake in Ant’s credit-scoring JV

State-backed firms are set to take their first sizeable stake in a key Ant Group asset as part of the Chinese FinTech giant’s regulatory-driven revamp that was ordered after ...

Platform News: China

China targets US IPOs, algorithms, cloud in latest tech takedown

Communist China has launched a multi-pronged attack on its tech companies, threatening to curb their ability to list in the US, seeking to tighten up regulation of their use of alg...

Platform News: Ant Group and Alipay

China says measures applied to Ant Group to be imposed on other payment firms

China’s central bank has said that anti-monopoly measures applied to e-commerce giant Alibaba’s financial technology affiliate Ant Group will also be imposed on other p...

Platform News: China's Didi

What is driving China’s clampdown on Didi and data security?

China’s cyberspace regulator has launched a probe into ride-hailing giant Didi Global, calling for it to stop adding new users and for app stores to remove it, days after it ...

Ant Group

China’s Ant highlights distinction between NFTs and cryptocurrencies

China’s Ant Group has sought to draw a distinction between non-fungible tokens (NFTs) available on its platforms and cryptocurrencies currently subject to a crackdown by Beij...

Platform News: Bitcoin and the rise of cryptocurrencies

Bitcoin slumps further as China tightens crypto crackdown

Bitcoin has tumbled to a two-week low on China’s expanding crackdown on bitcoin mining, as investors grew more uncertain about the future of the leading cryptocurrency.

Alibaba Office Building

Anti-monopoly fine pushes Alibaba to first operating loss as public company

China’s top e-commerce platform Alibaba Group posted its first quarterly operating loss since going public in 2014 due to a record anti-monopoly fine by the country’s m...

Platform News: Jack Ma, the founder of Alibaba

Jack Ma makes rare visit to Alibaba headquarters in Hangzhou

Alibaba founder Jack Ma, largely out of public view amid a regulatory clampdown on the group, made a rare visit to its Hangzhou campus during the e-commerce giant’s annual &#...

Ant Group

Ant Group agrees to invest in Brazil loyalty co Dotz

China’s Ant Group has sealed a deal to acquire a 5% stake in the Brazilian loyalty program Dotz, according to a securities filing on Wednesday.

Platform News: Ant Group and the FinTech sector in China

What’s next for Jack Ma’s Ant Group after China orders revamp?

China has imposed a sweeping restructuring plan on Ant Group, the FinTech conglomerate whose record $37 billion IPO was derailed by regulators in November, that will see the group ...

Platform News: Jack Ma, the founder of Alibaba

Ant explores ways for Jack Ma to exit as Beijing piles pressure

Ant Group is exploring options for Jack Ma to divest his stake, as meetings with Chinese regulators signalled to the company that the move could help draw a line under Beijing̵...

Platform News: Ant Group and the FinTech sector in China

Some investors lukewarm on China’s Ant Group if revived after revamp

China’s regulatory-imposed revamp of Ant Group, transforming the hot FinTech into a financial holding company, appears to have dented some investor appetite for any plans to ...

Platform News: China's Alibaba online marketplace

China fines Alibaba record $2.75 billion for anti-monopoly violations

China has slapped an 18 billion yuan (approximately $2.75 billion) fine on Alibaba Group, after an anti-monopoly probe found the e-commerce giant had abused its dominant market pos...