Similar to banks, the holding company will now be subject to capital requirements. The restructuring plan includes all of Ant’s businesses such as its blockchain and food delivery technology products. Initially, Ant proposed to put only its financial operations into the new holding company.
The overhaul may officially take place before the start of China’s Lunar New Year holiday. The latest development happens a month after the government of China planned to nationalise Ant and Alibaba Group, which owns one-third of Ant.
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