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Fintech firm urged to rectify its operations By Chen Jia | China Daily | Updated: 2020-12-28 06:46 Share CLOSE Photo taken on Oct 15, 2020 shows the headquarters of Ant Group in east China s Hangzhou city. [Photo/Xinhua] China s financial watchdogs have required Ant Group, the financial technology arm of the country s e-commerce giant Alibaba, to rectify its major business lines to comply with laws and regulations, in order to ensure fair market competition and protect consumers due interests, according to the central bank on Sunday. Regulators raised five rectification requirements for Ant Group s key services, after they talked with the group one day earlier, saying that the firm should return to and focus on the payment business, improve the transparency of transactions and avoid unfair competition.

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