Jack Ma’s Ant Boosts Consumer-Finance Unit With $3.5 Billion Fundraising

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The consumer-finance arm of China’s Ant Group is boosting its financial firepower with a $3.5 billion capital increase, with the biggest chunk of outside funding coming from a powerful state-owned institution

The consumer-finance arm of China’s Ant Group Co. is boosting its financial firepower with a $3.5 billion capital increase, with the biggest chunk of outside funding coming from a powerful state-owned institution.

, Chongqing Ant Consumer Finance Co., to 30 billion yuan, the equivalent of $4.7 billion. That will allow the unit to maintain a bigger balance sheet, meaning it can advance more credit to customers, and marks a step forward in a key part of Ant’s revamp.

 

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viriyabot Alibaba is no longer Jack Ma’s, but is a SOE of the Communist Party of China!

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*State owned - CCP literally mafiad out Jack Ma

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China is un-investable under Xi's innovation crushing policies. Period.

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