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in Tech

Ant gets approval to expand its consumer finance business

by Editor January 4, 2023, 6:27 am 999 Views

Ant gets approval to expand its consumer finance business

Regulatory scrutiny forced Hangzhou-based Ant Group to abruptly suspend its massive IPO plans in 2020.

Vcg | Visual China Group | Getty Images

BEIJING — Ant Group’s consumer finance unit has received approval to more than double its registered capital, a sign of progress in resolving regulators’ concerns.

Since the abrupt suspension of its massive IPO in late 2020, Ant has been working with Chinese regulators to restructure its business….

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