Business
Is the Ant Group shake-up a sign of things to come? – BBC News
The wind has changed for China’s financial technology giants who now face increased scrutiny.
By Tim McDonaldBusiness reporter, BBC News
image copyrightGetty Images
image captionJack Ma
Chinas central bank hauled in executives from Ant Group over the weekend, and ordered a major shake-up of the companys operations.
The move comes about a month after regulators scuppered the companys listing on the Hong Kong and Shanghai exchanges.
Some see the move as a vengeful communist party lashing out at the companys outspoken founder Jack Ma.
But analysts note that reforming the financial sector…
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