Bloomberg
Ant Gets Go-Ahead for Consumer Lending Unit in Sign of Thaw
(Bloomberg) — China is allowing Jack Ma’s Ant Group Co. to start operations at its consumer finance company, the first sign of progress after a regulatory crackdown torpedoed the fintech giant’s record listing.The unit, registered in Chongqing, will be allowed to lend to individuals, issue bonds and borrow from domestic financial institutions, according to a notice from the China Banking and Insurance Regulatory Commission on Thursday.The approval marks an important step in Ant’s overhaul as it
