Home Business It is rumored that the People’s Bank of China accepts Ant’s application to establish a financial holding company and enters the countdown

It is rumored that the People’s Bank of China accepts Ant’s application to establish a financial holding company and enters the countdown

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It is rumored that the People’s Bank of China accepts Ant’s application to establish a financial holding company and enters the countdown

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Reuters reported that China‘s central bank has accepted Ant Group’s application to set up a financial holding company. There are various recent signs that Ant Group has gradually reached a consensus with the government to get rid of the regulatory blow, and the countdown to listing has entered.

Reuters quoted three sources on Friday as saying that the People’s Bank of China had accepted the relevant application from Ant Technology Group this month and had basically completed the approval of its credit assessment joint venture license, which is regarded as Ant Group’s long-term A key step in a year of rectification.

Ant Group has been working with financial regulators and implementing reforms in recent months, the sources said, with the People’s Bank of China recently agreeing to review the application, and Ant Group may be able to obtain the long-awaited license soon.

With the recent rumors that Ant Group will restart the listing process, many investors are also looking forward to this opportunity, and regulators can relax the supervision of private enterprises.

Ant Group and the People’s Bank of China did not respond to the latest Reuters report.

Motivated by the news, Alibaba, Ant’s parent company, surged more than 10% in premarket trading on Friday night.

In early June, Reuters quoted people familiar with the matter as saying that Ant Group’s initial public offering (IPO) process in Hong Kong and Shanghai has entered the final stage, and as long as the regulatory authorities nod to let it go, it will restart as soon as July.

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According to reports and analysis at the time, with the progress of Ant Group’s IPO process, it may also symbolize the “recovery to a certain extent” of Alibaba founder Jack Ma. After Ant’s IPO was halted at the end of 2020, Jack Ma has kept a low profile and barely appeared in public.

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