China’s central bank provides the Ant Group with the ultimatum after a blocked IPO

The Peoples’ Bank of China (PBOC) has urged the Ant Group to overhaul its business, accusing it of ignoring regulatory issues in its practices.

Chinese regulators are keeping an eye on the Ant Group

The Financial Times reports Ant, who is creating new plans and timelines to meet China’s central bank requirements.

Ant Group, formerly known as Ant Financial and Alipay, is owned and operated by Alibaba Group’s founder, Jack Ma, China’s richest individual.

In 2020 …

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