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Banking

Consumer default wave getting started in China

BEIJING: Like millions of people around the world, Zhang Chunzi borrowed money she thought she’d be able to repay before the coronavirus changed everything.

Fintech

Ant Financial buys small stake in fintech partner Klarna

BERLIN: Klarna, Europe’s most valuable fintech company, said on Wednesday that China’s Ant Financial Services Group had taken a small stake in it as the two strengthen their online shopping partnership.