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Ant and China Banks Are Reining In Joint Loans to Consumers


Ant and China Banks Are Reining In Joint Loans to Consumers
Bloomberg
2/4/2021
Bloomberg News
© Bloomberg
An employee walks through the campus of the Ant Group Co. headquarters in Hangzhou, China, on Wednesday, Jan. 20, 2021. Ant Co-Founder Jack Ma resurfaced for the first time since China’s government began clamping down on his business empire nearly three months ago, appearing in a live-streamed video that sent Ant affiliate Alibaba Group Holding Ltd. s stock soaring but left plenty of unanswered questions about the billionaire’s fate.
(Bloomberg) Ant Group Co. and at least a dozen banks are paring back their years-long cooperation on consumer lending platforms that fuel the spending of at least 500 million people across China. ....

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Ant Conducting 'Self-Review' After $35 Billion IPO Collapses


Bloomberg News, Bloomberg News
The Ant Group Co. mascot is displayed at the company s headquarters in Hangzhou, China, on Monday, Sept. 28, 2020. Jack Ma s Ant Group is seeking to raise $17.5 billion in its Hong Kong share sale and won t seek to lock in cornerstone investors, confident there will be plenty of demand for one of the largest equity deals in the financial hub, according to people familiar with the matter.
, Bloomberg
(Bloomberg) Ant Group Co. Chairman Eric Jing has emerged contrite and apologetic from the collapse of the fintech giant’s $35 billion initial public offering.
The company is “looking into the mirror, finding out our shortcomings, and conducting a body check-up,” Jing said in a speech at the 4th China Internet Finance Forum on Tuesday. Ant is striving to “properly manage” issues related to the suspension of the IPO, he said. ....

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