The long-awaited Swap Connect program, which is poised to attract more overseas capital inflows into the world's second-largest bond market, commenced trading on Monday.
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More Bad News For Jack Ma’s Ant Group: Why China Is Pinching Fintech Company
12/28/20 AT 7:59 AM
Jack Ma is under the firm grip of Chinese regulators. The Ant Group founder is facing demands that his fintech company rectifies a series of financial violations while overhauling its credit rating business as the country looks to break up monopoly internet companies.
The news comes as Chinese regulators put a halt to Ant Group’s dual $37 billion IPO listings in Shanghai and Hong Kong last month after Ma made controversial comments about the country’s regulatory system back in October. At the time, Ma had said that there are “no systemic financial risks in China because there’s no financial system in China.”