Although Ant has been working with financial regulators for months on a broad revamp, the central bank's agreeing to review the application signals the company could get its long-awaited licence soon, said the sources, who asked not to be named due to confidentiality constraints.set to raise US$37 billion in the world's biggest listing, in November 2020, soon after Mr Ma gave a speech accusing financial watchdogs of stifling innovation.
As part of that overhaul, the PBOC in December 2020 told Reuters in a statement that Ant was drafting a plan to set up a financial holding firm, and that Ant should ensure that all its financial operations were placed under regulatory supervision. Reuters reported last week that China's central leadership had given Ant, an affiliate of Chinese e-commerce behemoth Alibaba Group Holding, a tentative green light to revive its IPO in Shanghai and Hong Kong.
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