China orders Ant Group to rectify businesses ...Middle East

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China orders Ant Group to rectify businesses
source : Devdiscourse ( Middle East ) () 60
Chinese regulators have ordered Ant Group, the world's largest financial technology company, to rectify its businesses and comply with regulatory requirements amid increased scrutiny of anti-monopoly practices in the country's internet sector. The People's Bank of China, the country's central bank, summoned Ant executives on Saturday and ordered them to formulate a rectification plan and an implementation timetable of its business, including its credit, insurance and wealth management services, the regulators said in a statement Sunday.

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