Chinese regulators on Sunday ordered the financial-technology giant Ant Group to fix what they described as a litany of business failings, escalating a pressure campaign that has been building since the government abruptly halted the company’s plans for a record-breaking share listing last month. The Chinese government has begun taking a harder line toward big internet companies, which have come to wield vast influence over segments of the economy much like Facebook, Google and other tech giants have done elsewhere.
China’s market regulator recently opened an antimonopoly investigation into Ant’s sister company, the e-commerce behemoth Alibaba; Alibaba is the other pillar of the business empire built by Jack Ma, China’s richest man and best-known tycoon. Ant’s Alipay platform began as […].
To see the full article CLICK HERE
