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Chinese authorities ask banks to report financial links to Ant Group

News Snapshot:

Chinese state-owned firms and banks have been asked by the authorities to report their financial exposure and links to Ant Group, Bloomberg reported, citing people familiar with the matter. Several regulators along with banking watchdogs have asked institutions to review their exposure to Ant, its subsidiaries, and shareholders up to January 2022, the sources said. According to the sources, China’s renewed scrutiny of Jack Ma’s Ant is by far the most comprehensive review of the group. They also added that the firms have been asked to report to the authorities on the findings as soon as possible. The reason for…

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