Cheng Leng
Stories by Cheng Leng
Ant Group’s consumer finance unit in Chongqing bags operating approval
The approval comes nearly two months after regulators imposed a sweeping restructuring on Ant.
China okays Goldman Sachs, ICBC joint wealth management venture
China opened its giant financial sector to foreign companies last year.
China’s Ant said to explore ways for Jack Ma to exit amid govt pressure
While he only owns a 10% stake in Ant, Ma exercises control over the firm through related entities.
China’s Ant to restructure as financial holding firm under enforced revamp
The move along with other restrictions is expected to curb its profitability and valuation.
China fines Alibaba record $2.75b for anti-monopoly violations
The penalty is equivalent to around 4% of Alibaba's 2019 revenues.
Chinese state shipping giant COSCO takes stake in Bank of Kunlun
Bank of Kunlun is majority-owned by China National Petroleum arm CNPC Capital.
China’s Tencent boss meets antitrust officials as scrutiny widens
Pony Ma met China's antitrust watchdog officials to discuss compliance at his group.
Jack Ma’s online platform MYbank joins China’s digital yuan pilot
Ant-backed MYBank said it was one of the parties participating in the R&D on China's e-currency.
Emboldened by new norms, Chinese retail banks gear up to seize lost business from fintechs
New regulations include scrapping limits on credit card interest rates.
China may push tech giants Ant, Tencent, others to share consumer credit data
Move aimed at preventing excess borrowing and fraud.
