A “comprehensive and actionable” revamp plan of Ant was released on Monday, providing a business overhaul in five aspects where the company should work to “correct its behavior of unfair competition”, according to a joint statement by four government agencies including the People’s Bank of China, the central bank.
BEIJING: Chinese authorities plan to turn Ant Group into a financial holding company whose financial activities are put under stricter regulatory supervision in a move related to a month-long antitrust probe.
A “comprehensive and actionable” revamp plan of Ant was released on Monday, providing a business overhaul in five aspects where the company should work to “correct its behavior of unfair competition”, according to a joint statement by four government agencies including the People’s Bank of China, the central bank.
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