Alibaba is the other pillar of the business empire built by Jack Ma, China’s richest man and best-known tycoon. Officials from four financial watchdogs, including the central bank, met with Ant on Saturday, the agencies said. Pan also said the regulators had ordered Ant to reorganize itself to ensure that it met capital requirements. “We appreciate financial regulators’ guidance and help,” the statement said. “The rectification is an opportunity for Ant Group to strengthen the foundation for our business to grow with full compliance.”©2020 The New York Times Company

Source: bd News24 December 27, 2020 22:18 UTC