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Friday, December 25, 2020, 12:58
China's financial watchdogs to conduct regulatory talks with Ant
By Xinhua
Friday, December 25, 2020, 12:58 By Xinhua

In this Oct 23, 2020, photo, an employee walks past a logo of the Ant Group at their office in Hong Kong. (KIN CHEUNG/AP)

BEIJING - China's central bank and three financial watchdogs will conduct regulatory talks with Ant Group within the next few days.

The talks are expected to urge and guide Ant Group to follow market-driven and law-based principles

The People's Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, and the State Administration of Foreign Exchange will carry out the talks with the group.

READ MORE: Ant, Grab become 1st tech firms to run banks in Singapore

The talks are expected to urge and guide Ant Group to follow market-driven and law-based principles, implement requirements regarding financial supervision, fair competition and protection of consumers' legitimate rights and interests, and regulate the operation and development of its financial businesses.

ALSO READ: HKMA: Ant will remain an important firm in Hong Kong

This is the second time since Ant’s record $34.5 billion IPO was suspended in earlier November that regulators have called in Ant Group management for talks.

“Today, Ant Group received a meeting notice from regulators. We will seriously study and strictly comply with all regulatory requirements and commit full efforts to fulfill all related work,” the company said in a statement.


Luo Weiteng contributed to this report

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