Ant ordered to restructure by Chinese regulators - 0 views
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John Kiff on 12 Apr 21The People's Bank of China (PBOC) has ordered Ant Group to "cut off" the "improper connections" between its payment platform and its financial products. The PBOC also told told Ant to become a financial holding company that will be regulated more like a bank, eliminate unfair competition in its payments business, end its monopoly on information, improve its corporate governance, and better manage liquidity risks in its major fund products (including downsizing its Yu'ebao money-market fund ). http://www.pbc.gov.cn/goutongjiaoliu/113456/113469/4229432/index.html