Last month, as China's top market watchdog began investigation into alleged anti-competition practices by the e-commerce giant Alibaba, the country also laid out "rectification plan" for Ma's fintech venture Ant Group.
According to a report in TechCrunch, the People's Bank of China, the country's central bank, "summoned Ant Group for regulatory talks on December 26th, announcing a sweeping plan for the fintech firm to 'rectify' its regulatory violations".
The banking authority laid out a five-point compliance agenda for Ant Group.
The agenda is that Ant Group should return to its roots in payments and bring more transparency to transactions.
"conflict" - Google News
January 04, 2021 at 01:39PM
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Jack Ma ‘disappears’ after conflict with Chinese govt - National Herald
"conflict" - Google News
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