October 29, 2024

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A close-up shot of accountants working on a consolidated financial report illustrates China's reduced penalty for Ant Group.
IPO News

Ant Group Gets a Reprieve as China Eases Crackdown

World Fintech News 0
As regulators in China prepare to end a multi-year industry crackdown, the financial technology giant Ant Group, an Alibaba Group Holding Ltd subsidiary, will likely face reduced penalties. According to Reuters’ reports, regulators have proposed lowering the proposed fine from over $1 billion to 5 billion ($728 million). Since the People’s Bank of China (PBOC)

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