December 27, 2020

China's top financial regulatory authorities, including the central bank, jointly interviewed Alibaba Group's fintech offshoot Ant Group on Saturday, in a follow-up to the high-profile antitrust probe into the e-commerce giant that aims for a new starting point for the country's platform economy. 

The regulators pinpointed a raft of major problems with the Alipay operator, such as defiance of regulatory and compliance requirements, and urged rectification of its key businesses as part of the nation's broad efforts to put fintech firms and online platform operators on track for more sustainable innovation. 

The banking and insurance regulator, the securities regulator and the foreign exchange regulator also joined the People's Bank of China (PBC), the country's central bank, in the interview. 

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