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Ant Group approved by regulator to start consumer lending business, a key first step in restructuring

Last updated on June 4, 2021

Ant Group has received approval from Chinese regulators to start operations at its consumer lending business, a key positive step in the forced restructuring just months after its dual-listing was abruptly suspended.

The Chongqing branch of the China Banking and Insurance Regulatory Commission (CBIRC) has approved Chongqing Ant Consumer Finance to start operations within six months, according to a statement released by the regulator on Thursday.

The company will be registered in Chongqing . . .

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