Regulators completely banned on Jan. 15 the sale of bank deposit products on third-party platforms to minimize risk from highly leveraged banks.
The new antitrust rules for China’s digital payment market could trigger a regulatory review of Ant Group and Tencent based on market share.
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.
The Alibaba and Ant Group founder, Jack Ma, made his first public appearance in months at a video conference with rural teachers.
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 employees can use the Alipay app for digital yuan transactions in select locations, including the Lujiazui district in Shanghai.
Ant Group will face financial regulators “in the coming days.” The fintech giant had its IPO suspended in November.
As sister company Ant Group faces challenges from finance regulators, Alibaba is confirmed to face an anti-monopoly investigation.