Press "Enter" to skip to content

China releases new rules for financial holding firms to tighten regulation on Ant and other conglomerates

THE WIRE WITH UP-TO-THE-MINUTE UPDATES

China released new rules that will subject financial companies including Ant Group and other conglomerates to new regulations in its latest attempt to curb risks in the country's vast financial industry.

The new rules will require licenses for non-financial companies that do business across at least two financial sectors, and which are designated as “financial holding companies,” the State Council said. Any application must be submitted within 12 months after the rules take effect on . . .

To continue reading, please subscribe. You will get

 

  • IN-DEPTH & DATA-DRIVEN reporting about key trends in China's economy and financial markets
  • THE WIRE - Up-to-the-minute updates of market-moving news and views. We want you to be the first to know it when something important happens.
  • DETAILS - We bring you details that you won't find elsewhere. General information about China is everywhere, but information with details and relevant to your investment is rare. 

 

FREE TRIAL cancel anytime

 

We highly value independence. We are solely funded by subscriptions from intelligent readers like you. 

Already have an account? Sign In

Top