Regulators completely banned on Jan. 15 the sale of bank deposit products on third-party platforms to minimize risk from highly leveraged banks.
Ant Group
New digital payment rules likely to hit Ant Group, Tencent
The new antitrust rules for China’s digital payment market could trigger a regulatory review of Ant Group and Tencent based on market share.
Bytedance unveils Douyin mobile payment tool to rival Alipay, WeChat
Douyin Pay was recently added to the app, allowing users to buy virtual gifts for livestreamers and pay for goods on the app’s e-commerce platform.
Jack Ma resurfaces amid regulatory clampdown
The Alibaba and Ant Group founder, Jack Ma, made his first public appearance in months at a video conference with rural teachers.
China Tech Investor: From Alibaba & Ant to Xiaomi: Looking back at 2020, forward to 2021
James and Elliott review the winners and losers of 2020, what they got right and what they got wrong, as well as the lessons they learned.
Ant Group digital yuan tests, Iran’s Chinese miners: Blockheads
Ant Group employees can use the Alipay app for digital yuan transactions in select locations, including the Lujiazui district in Shanghai.
Ant Group to meet regulators ‘in the coming days’
Ant Group will face financial regulators “in the coming days.” The fintech giant had its IPO suspended in November.
China launches anti-monopoly investigation into Alibaba
As sister company Ant Group faces challenges from finance regulators, Alibaba is confirmed to face an anti-monopoly investigation.