Ant Basically Complete Rectifications; Prelim Regulatory Framework Established

Relevant persons from the People’s Bank of China (PBOC) revealed that, since November 2022, China’s financial regulatory departments have been guiding 14 large-scale platform enterprises, including Ant Group, to rectify issues concerning their respective operations, and that relevant rectifications are now basically completed, Chinese media reported.

In addition to that, a preliminary framework on regular supervision over the platform enterprises’ financial businesses was also established, the sources added.