China Tells Ant to Return to Payments Services Origins

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  • Bloomberg Markets and Finance published this video item, entitled “China Tells Ant to Return to Payments Services Origins” – below is their description.

    Dec.27 — Chinese regulators order Jack Ma’s fintech behemoth Ant Group Co. to return to its roots as a provider of payments services. The central bank summoned Ant executives over the weekend and told them to “rectify” the company’s lending, insurance and wealth management services. Rosalind China reports on “Bloomberg Daybreak: Australia.”

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    In This Story: China

    China is the third largest country in the world by area and the largest country in the world by population. Properly known as the People’s Republic of China, the political territory of the country includes the former nations of Tibet and Hong Kong. The capital is Beijing.

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  • In This Story: Jack Ma

    Jack Ma, or Ma Yun, is a Chinese business magnate, investor and philanthropist. He is the co-founder and former executive chairman of Alibaba Group, a multinational technology conglomerate. Ma is a strong proponent of an open and market-driven economy.

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