Tag: Alibaba
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Alibaba Plans To Split Into Six Companies!
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The Chinese online retail giant Alibaba wants to split itself into six independent companies. This would transform the now monolithic tech giant Alibaba into a tech holding company, which is rare in China.
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Jack Ma Resurfed In China After Successful Alibaba Restructuring!
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Before his return, Alibaba founder Jack Ma had been abroad for over a year. The billionaire’s relationship with Chinese authorities is strained. Now, he has reappeared in China for the first time. The Hong Kong newspaper South China Morning Post, which he owns, reported that Ma visited a school in…
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Alibaba Shares Ultimately Rise By Double Digits: Ant Progresses In Discussions With Chinese Supervisors!
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The Chinese technology company Ant Group of billionaire Jack Ma is progressing in resolving its regulatory issues with the Chinese Banking and Insurance Regulatory Commission. The regulator allowed the group to increase the capital of its consumer finance subsidiary by 10.5 billion yuan (about €1.4 billion) shortly before the turn…
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China’s FinTech Ant Reportedly Faces A Billion-Dollar Fine!
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The fine could end the regulatory process that has been ongoing for two years. After that, the planned IPO could also be resumed. Ant Group, the fintech arm of e-commerce giant Alibaba, is expected to pay more than a billion dollars in fines to the Chinese state. This was reported…
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Alibaba Founder Jack Ma Plans To Withdraw From Ant Group
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Chinese regulators have once again targeted Alibaba Group Holding, a major shareholder in Ant Group, after several fines were already imposed on the Internet group. The powerful Alibaba Group Holding Ltd and Jack Ma’s financial technology giant Ant Group have been under scrutiny from Chinese authorities for years. Ant told…
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China Approves Plan For ‘Healthy’ FinTech Sector Development!
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Chinese President Xi Jinping chaired a conference this week that approved publicizing the “healthy” development of the payment and fintech sectors. The meeting of the central commission for deepening overall reform also backed improving regulation of significant payment platforms, adding that companies would be encouraged to return to their roots…
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False Rumours About China’s Fintech Giant Ant Group’s Revived IPO Plans!
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In 2020, banking regulators had halted plans for an initial public offering of Alibaba’s payment subsidiary, Ant Group. Alibaba and its founder Jack Ma had fallen out of favor with Chinese regulators. Recently, rumors about revived IPO plans spread. However, Ant Group denied such plans and the shares of Alibaba…