China's Ant Group plans consumer finance firm in growth push ahead of IPO

  • 📰 Reuters
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Ant Group, Alibaba's fintech arm and China's dominant mobile payments company, plans to set up a consumer finance firm in the southwestern city of Chongqing, expanding its presence in the fast-growing domestic business, two sources told Reuters.

) fintech arm and China’s dominant mobile payments company, plans to set up a consumer finance firm in the southwestern city of Chongqing, expanding its presence in the fast-growing domestic business, two sources told Reuters.

Ant, 33% owned by e-commerce giant Alibaba Group Holding, has already amassed a range of financial licensesincluding payments, online banking, insurance and micro lending to operate in China's vast financial market valued at trillions of dollars. The founders plan to invest a total of about 8 billion yuan in the firm as the registered capital and look to sign the agreement as early as on Friday, the sources added.Nanyang Commercial Bank and TransInfo did not immediately respond to requests for comment.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Ant Group is serving CCPChina BanChineseProducts BoycottChineseProducts

Victorians we need 500,000 of us on the steps at spring st on sept 13th 12 noon until 10pm The Daniel Andrews Government will be overthrown by the people, Victoria Police you are either with us or against us choose wisely!

China's Alipay is really powerful

interesting BTW phemex is a great exchange😉

good case

中共の?しんぱい

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asia stocks set to trade lower as U.S.-China tensions remainStocks in Asia Pacific were set to trade lower on Monday as tensions between the U.S. and China continue to weigh on investor sentiment. Doesn’t matter because the market has shown it cares about nothing & everything is bullish!
Source: CNBC - 🏆 12. / 72 Read more »