Ant has been a force for financial inclusion. Regulator concerns must be weighed against the value that fintech innovations offer to society.
Eyes turned to Jack Ma, Alibaba founder and the largest stakeholder in Ant Group, after the Shanghai Stock Exchange announced it would postpone the group’s mega-IPO. Credit: Greg Beadle/World Economic Forum, Creative Commons
The Chinese fintech conglomerate Ant Group, known for its digital payments and other online financial services, has just been stopped in its tracks, after Chinese regulators suspended its simultaneous public listing, originally scheduled for November 5, on the Hong Kong and Shanghai Stock Exchanges. The suspension is possibly in response to a recent speech by Jack Ma, Ant’s controlling shareholder, who was critical of financial regulations that he believes show insufficient understanding and s
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If Xi Jinping is becoming more preoccupied with internal politics, it could lead to a period of relative calm in China’s relations with the United States.
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