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Chinese Firms Ant Group, Tencent Hit with Hefty Fines for "Illegal Acts" as Crackdown Draws Close

Published: July 7, 2023

Chinese regulators fine Ant Group USD 1 bn for illegal acts while Tencent affiliate receives $415 million penalty. Tech crackdown in the country nearing end

Source: news18.com

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Hong KongJack MaAnt GroupChina Securities Regulatory CommissionHong Kong ShanghaiFinancial TimesChinese RegulatorsFintech GiantAnt GroupIllegal ActsRival TencentTech FirmsDigital PaymentsMonthly UsersProminent TargetsSweeping CrackdownFinancial BusinessPlatform EnterprisesOrmalised SupervisionAlibaba SharesCompliance GovernanceR Ampd CapabilitiesPhysical EconomySmall BusinessesCorporate Governance