Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues

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Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues

CNBC2021-06-04

KEY POINTS China has approved Ant Group to operate a consumer finance company. Ant will hold a 50% stake in the new entity. The creation and operation of a consumer finance company is a big first ...

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KlWong
·2021-06-04
Like n comment pls
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th0mastan
·2021-06-04
Seems like a nice turnaround
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Mingling8885
·2021-06-04
Comeback ??
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1
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daniao
·2021-06-04
Comment and like pls
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- Mingling8885:
  ??
  2021-06-04
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求老师指点
·2021-06-04
????
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1
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ProsPaddles
·2021-06-04
Alibaba to the ?!
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2
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- Winner168:
  I am also waiting
  2021-06-04
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sharonyim
·2021-06-04
pls comment and like ?
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- KlWong:
  Done
  2021-06-04
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- daniao:
  Ok done ols help me too
  2021-06-04
  Reply
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iHuat
·2021-06-04
This is great news . What a year it has been for Alibaba
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- Index_:
  Focus on what they do and not what they say. As of currently, I still see big boys selling
  2021-06-04
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Kucing
·2021-06-04
good news! plsss like and comment..
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xwteric
·2021-06-04
ok. pls comment back
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- xwteric:
  ok
  2021-06-07
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- Niki2307:
  ???
  2021-06-06
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- szueyann:
  ok
  2021-06-04
  Reply
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正和游戏ing
·2021-06-04
昨天已重倉
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Hunter88
·2021-06-04
Well done
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2
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MJ89
·2021-06-04
Tell me your opinion about this news...
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Jingsoon
·2021-06-04
要買嗎
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Huatkia168
·2021-06-04
Nice
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Alancheah
·2021-06-04
Finance revolution started.
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bzlim
·2021-06-04
I really am not worried to hold baba. Even if it drops more I will just buy more lower.
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- skyel:
  Agree
  2021-06-04
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WTurtle
·2021-06-04
Finally!! Any group is on first stage to IPO!!
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KlWong
·2021-06-04
Hm
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Damon_6050
·2021-06-04
Guys gimme a comment please
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- Alvin1975:
  Like and comment pls
  2021-06-04
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The company will be registered in the southwestern city of Chongqing with a total registered capital of 8 billion yuan.\nThe business will be able to give out personal loans and issue bonds among other things. The consumer finance company will also house Ant's credit businesses Huabei and Jiebei. These arecritical for the company and previously big drivers of revenue.\nIn November, Ant Group, which is controlled by billionaire Jack Ma, was set to carry out a record-breaking $34.5 billion initial public offering in Shanghai and Hong Kong.But Chinese authorities pulled the plug on the listing two daysbefore it was supposed to happen, citing regulatory concerns.\nThe People's Bank of China ordered Ant Group to come up with arectification plan in Decemberandapproved a series of steps in April. One of those includes Ant Group becoming a financial holding company, which could mean the company becomes regulated more like a bank.\nWhile that has not yet happened, the creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\"Under the guidance of regulators, Ant will work with other shareholders of Chongqing Ant Consumer Finance Co., Ltd. to serve the needs of consumers, and to continue enhancing the quality of financial services and risk management capabilities,\" a spokesperson for Ant Group said Thursday.\nBefore the suspension of the IPO, Chinese regulators were becoming concerned about technology companies offering bank-like services such as lending and the impact on financial stability.\nAnt Group offers loans which are independently underwritten by the company's partner financial institutions, which includes around 100 banks. In the six month ended of June 30, 2020, this accounted for around 39% of its revenues, the largest portion. The loans were previously offered via the Huabei and Jiebei products.\nNow Ant will be required to clearly label which financial institution is giving the loan, an unnamed CBRIC official told the 21st Century Business Herald publication. Any loans via the Huabei and Jiebei brand will need to be partly underwritten by Ant's consumer finance company, the report said. A person with knowledge of the matter, who preferred to remain anonymous, confirmed to CNBC that the details in the report were correct.\nThe scrutiny on Ant kicked off a regulatory assault on Ma's empire which included a$2.8 billion fine in an anti-monopolyinvestigation of e-commerce giantAlibaba.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":116217923,"gmtCreate":1622803572862,"gmtModify":1704191484705,"author":{"id":"3585862393512500","authorId":"3585862393512500","name":"KlWong","avatar":"https://static.tigerbbs.com/b20610400ddcc33719ca6767c3e3fbde","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3585862393512500","authorIdStr":"3585862393512500"},"htmlText":"Like n comment pls","listText":"Like n comment pls","text":"Like n comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/116217923","repostId":1128349956,"repostType":4,"repost":{"id":"1128349956","kind":"news","pubTimestamp":1622767522,"share":"https://ttm.financial/m/news/1128349956?lang=&edition=fundamental","pubTime":"2021-06-04 08:45","market":"hk","language":"en","title":"Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues","url":"https://stock-news.laohu8.com/highlight/detail?id=1128349956","media":"CNBC","summary":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% ","content":"<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-04 08:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","06688":"蚂蚁集团","BABA":"阿里巴巴"},"source_url":"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1128349956","content_text":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\nGUANGZHOU, China — China has given its approval to Ant Group to operate a consumer finance company, a key positive step in the forced restructuring of its business just months after regulators slammed the brakes on its record-breaking listing.\nAnt will hold a 50% stake in the new entity and contribute 4 billion Chinese yuan ($625.93 million) in registered capital, the China Banking and Insurance Regulatory Commission said on Thursday.\nAnother six shareholders will contribute 4 billion yuan and hold the remaining 50%. The company will be registered in the southwestern city of Chongqing with a total registered capital of 8 billion yuan.\nThe business will be able to give out personal loans and issue bonds among other things. The consumer finance company will also house Ant's credit businesses Huabei and Jiebei. These arecritical for the company and previously big drivers of revenue.\nIn November, Ant Group, which is controlled by billionaire Jack Ma, was set to carry out a record-breaking $34.5 billion initial public offering in Shanghai and Hong Kong.But Chinese authorities pulled the plug on the listing two daysbefore it was supposed to happen, citing regulatory concerns.\nThe People's Bank of China ordered Ant Group to come up with arectification plan in Decemberandapproved a series of steps in April. One of those includes Ant Group becoming a financial holding company, which could mean the company becomes regulated more like a bank.\nWhile that has not yet happened, the creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\"Under the guidance of regulators, Ant will work with other shareholders of Chongqing Ant Consumer Finance Co., Ltd. to serve the needs of consumers, and to continue enhancing the quality of financial services and risk management capabilities,\" a spokesperson for Ant Group said Thursday.\nBefore the suspension of the IPO, Chinese regulators were becoming concerned about technology companies offering bank-like services such as lending and the impact on financial stability.\nAnt Group offers loans which are independently underwritten by the company's partner financial institutions, which includes around 100 banks. In the six month ended of June 30, 2020, this accounted for around 39% of its revenues, the largest portion. The loans were previously offered via the Huabei and Jiebei products.\nNow Ant will be required to clearly label which financial institution is giving the loan, an unnamed CBRIC official told the 21st Century Business Herald publication. Any loans via the Huabei and Jiebei brand will need to be partly underwritten by Ant's consumer finance company, the report said. A person with knowledge of the matter, who preferred to remain anonymous, confirmed to CNBC that the details in the report were correct.\nThe scrutiny on Ant kicked off a regulatory assault on Ma's empire which included a$2.8 billion fine in an anti-monopolyinvestigation of e-commerce giantAlibaba.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":116827772,"gmtCreate":1622791102596,"gmtModify":1704191250180,"author":{"id":"3573383537150312","authorId":"3573383537150312","name":"th0mastan","avatar":"https://static.tigerbbs.com/84d76bcdad50787fa2929139725c46f0","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3573383537150312","authorIdStr":"3573383537150312"},"htmlText":"Seems like a nice turnaround&nbsp;","listText":"Seems like a nice turnaround&nbsp;","text":"Seems like a nice turnaround","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/116827772","repostId":1128349956,"repostType":4,"repost":{"id":"1128349956","kind":"news","pubTimestamp":1622767522,"share":"https://ttm.financial/m/news/1128349956?lang=&edition=fundamental","pubTime":"2021-06-04 08:45","market":"hk","language":"en","title":"Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues","url":"https://stock-news.laohu8.com/highlight/detail?id=1128349956","media":"CNBC","summary":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% ","content":"<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-04 08:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","06688":"蚂蚁集团","BABA":"阿里巴巴"},"source_url":"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1128349956","content_text":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\nGUANGZHOU, China — China has given its approval to Ant Group to operate a consumer finance company, a key positive step in the forced restructuring of its business just months after regulators slammed the brakes on its record-breaking listing.\nAnt will hold a 50% stake in the new entity and contribute 4 billion Chinese yuan ($625.93 million) in registered capital, the China Banking and Insurance Regulatory Commission said on Thursday.\nAnother six shareholders will contribute 4 billion yuan and hold the remaining 50%. The company will be registered in the southwestern city of Chongqing with a total registered capital of 8 billion yuan.\nThe business will be able to give out personal loans and issue bonds among other things. The consumer finance company will also house Ant's credit businesses Huabei and Jiebei. These arecritical for the company and previously big drivers of revenue.\nIn November, Ant Group, which is controlled by billionaire Jack Ma, was set to carry out a record-breaking $34.5 billion initial public offering in Shanghai and Hong Kong.But Chinese authorities pulled the plug on the listing two daysbefore it was supposed to happen, citing regulatory concerns.\nThe People's Bank of China ordered Ant Group to come up with arectification plan in Decemberandapproved a series of steps in April. One of those includes Ant Group becoming a financial holding company, which could mean the company becomes regulated more like a bank.\nWhile that has not yet happened, the creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\"Under the guidance of regulators, Ant will work with other shareholders of Chongqing Ant Consumer Finance Co., Ltd. to serve the needs of consumers, and to continue enhancing the quality of financial services and risk management capabilities,\" a spokesperson for Ant Group said Thursday.\nBefore the suspension of the IPO, Chinese regulators were becoming concerned about technology companies offering bank-like services such as lending and the impact on financial stability.\nAnt Group offers loans which are independently underwritten by the company's partner financial institutions, which includes around 100 banks. In the six month ended of June 30, 2020, this accounted for around 39% of its revenues, the largest portion. The loans were previously offered via the Huabei and Jiebei products.\nNow Ant will be required to clearly label which financial institution is giving the loan, an unnamed CBRIC official told the 21st Century Business Herald publication. Any loans via the Huabei and Jiebei brand will need to be partly underwritten by Ant's consumer finance company, the report said. A person with knowledge of the matter, who preferred to remain anonymous, confirmed to CNBC that the details in the report were correct.\nThe scrutiny on Ant kicked off a regulatory assault on Ma's empire which included a$2.8 billion fine in an anti-monopolyinvestigation of e-commerce giantAlibaba.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":116886366,"gmtCreate":1622788325155,"gmtModify":1704191216018,"author":{"id":"3577490745225196","authorId":"3577490745225196","name":"Mingling8885","avatar":"https://static.tigerbbs.com/096e6787370cd32f0db7635ff8044468","vip":1,"crmLevel":5,"crmLevelSwitch":1,"idStr":"3577490745225196","authorIdStr":"3577490745225196"},"htmlText":"Comeback ??","listText":"Comeback ??","text":"Comeback ??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/116886366","repostId":1128349956,"repostType":4,"repost":{"id":"1128349956","kind":"news","pubTimestamp":1622767522,"share":"https://ttm.financial/m/news/1128349956?lang=&edition=fundamental","pubTime":"2021-06-04 08:45","market":"hk","language":"en","title":"Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues","url":"https://stock-news.laohu8.com/highlight/detail?id=1128349956","media":"CNBC","summary":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% ","content":"<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-04 08:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","06688":"蚂蚁集团","BABA":"阿里巴巴"},"source_url":"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1128349956","content_text":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\nGUANGZHOU, China — China has given its approval to Ant Group to operate a consumer finance company, a key positive step in the forced restructuring of its business just months after regulators slammed the brakes on its record-breaking listing.\nAnt will hold a 50% stake in the new entity and contribute 4 billion Chinese yuan ($625.93 million) in registered capital, the China Banking and Insurance Regulatory Commission said on Thursday.\nAnother six shareholders will contribute 4 billion yuan and hold the remaining 50%. The company will be registered in the southwestern city of Chongqing with a total registered capital of 8 billion yuan.\nThe business will be able to give out personal loans and issue bonds among other things. The consumer finance company will also house Ant's credit businesses Huabei and Jiebei. These arecritical for the company and previously big drivers of revenue.\nIn November, Ant Group, which is controlled by billionaire Jack Ma, was set to carry out a record-breaking $34.5 billion initial public offering in Shanghai and Hong Kong.But Chinese authorities pulled the plug on the listing two daysbefore it was supposed to happen, citing regulatory concerns.\nThe People's Bank of China ordered Ant Group to come up with arectification plan in Decemberandapproved a series of steps in April. One of those includes Ant Group becoming a financial holding company, which could mean the company becomes regulated more like a bank.\nWhile that has not yet happened, the creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\"Under the guidance of regulators, Ant will work with other shareholders of Chongqing Ant Consumer Finance Co., Ltd. to serve the needs of consumers, and to continue enhancing the quality of financial services and risk management capabilities,\" a spokesperson for Ant Group said Thursday.\nBefore the suspension of the IPO, Chinese regulators were becoming concerned about technology companies offering bank-like services such as lending and the impact on financial stability.\nAnt Group offers loans which are independently underwritten by the company's partner financial institutions, which includes around 100 banks. In the six month ended of June 30, 2020, this accounted for around 39% of its revenues, the largest portion. The loans were previously offered via the Huabei and Jiebei products.\nNow Ant will be required to clearly label which financial institution is giving the loan, an unnamed CBRIC official told the 21st Century Business Herald publication. Any loans via the Huabei and Jiebei brand will need to be partly underwritten by Ant's consumer finance company, the report said. A person with knowledge of the matter, who preferred to remain anonymous, confirmed to CNBC that the details in the report were correct.\nThe scrutiny on Ant kicked off a regulatory assault on Ma's empire which included a$2.8 billion fine in an anti-monopolyinvestigation of e-commerce giantAlibaba.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":116159388,"gmtCreate":1622782160244,"gmtModify":1704191112364,"author":{"id":"3575541782223727","authorId":"3575541782223727","name":"daniao","avatar":"https://static.tigerbbs.com/f1193bc7847be1da820c2d94723471b2","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3575541782223727","authorIdStr":"3575541782223727"},"htmlText":"Comment and like pls","listText":"Comment and like pls","text":"Comment and like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/116159388","repostId":1128349956,"repostType":4,"repost":{"id":"1128349956","kind":"news","pubTimestamp":1622767522,"share":"https://ttm.financial/m/news/1128349956?lang=&edition=fundamental","pubTime":"2021-06-04 08:45","market":"hk","language":"en","title":"Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues","url":"https://stock-news.laohu8.com/highlight/detail?id=1128349956","media":"CNBC","summary":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% ","content":"<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-04 08:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","06688":"蚂蚁集团","BABA":"阿里巴巴"},"source_url":"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1128349956","content_text":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\nGUANGZHOU, China — China has given its approval to Ant Group to operate a consumer finance company, a key positive step in the forced restructuring of its business just months after regulators slammed the brakes on its record-breaking listing.\nAnt will hold a 50% stake in the new entity and contribute 4 billion Chinese yuan ($625.93 million) in registered capital, the China Banking and Insurance Regulatory Commission said on Thursday.\nAnother six shareholders will contribute 4 billion yuan and hold the remaining 50%. The company will be registered in the southwestern city of Chongqing with a total registered capital of 8 billion yuan.\nThe business will be able to give out personal loans and issue bonds among other things. The consumer finance company will also house Ant's credit businesses Huabei and Jiebei. These arecritical for the company and previously big drivers of revenue.\nIn November, Ant Group, which is controlled by billionaire Jack Ma, was set to carry out a record-breaking $34.5 billion initial public offering in Shanghai and Hong Kong.But Chinese authorities pulled the plug on the listing two daysbefore it was supposed to happen, citing regulatory concerns.\nThe People's Bank of China ordered Ant Group to come up with arectification plan in Decemberandapproved a series of steps in April. One of those includes Ant Group becoming a financial holding company, which could mean the company becomes regulated more like a bank.\nWhile that has not yet happened, the creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\"Under the guidance of regulators, Ant will work with other shareholders of Chongqing Ant Consumer Finance Co., Ltd. to serve the needs of consumers, and to continue enhancing the quality of financial services and risk management capabilities,\" a spokesperson for Ant Group said Thursday.\nBefore the suspension of the IPO, Chinese regulators were becoming concerned about technology companies offering bank-like services such as lending and the impact on financial stability.\nAnt Group offers loans which are independently underwritten by the company's partner financial institutions, which includes around 100 banks. In the six month ended of June 30, 2020, this accounted for around 39% of its revenues, the largest portion. The loans were previously offered via the Huabei and Jiebei products.\nNow Ant will be required to clearly label which financial institution is giving the loan, an unnamed CBRIC official told the 21st Century Business Herald publication. Any loans via the Huabei and Jiebei brand will need to be partly underwritten by Ant's consumer finance company, the report said. A person with knowledge of the matter, who preferred to remain anonymous, confirmed to CNBC that the details in the report were correct.\nThe scrutiny on Ant kicked off a regulatory assault on Ma's empire which included a$2.8 billion fine in an anti-monopolyinvestigation of e-commerce giantAlibaba.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4576370,"gmtCreate":1622788281949,"gmtModify":1663227941336,"authorId":3577490745225196,"author":{"id":3577490745225196,"idStr":"3577490745225196","authorId":3577490745225196,"name":"Mingling8885","avatar":"https://static.tigerbbs.com/096e6787370cd32f0db7635ff8044468","vip":1,"currentWearingBadge":{"badgeId":"44212b71d0be4ec88898348dbe882e03-1","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"Boss Tiger","description":"The transaction amount of the securities account reaches $100,000","bigImgUrl":"https://static.tigerbbs.com/c8dfc27c1ee0e25db1c93e9d0b641101","smallImgUrl":"https://static.tigerbbs.com/f43908c142f8a33c78f5bdf0e2897488","grayImgUrl":"https://static.tigerbbs.com/82165ff19cb8a786e8919f92acee5213","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.07.14","exceedPercentage":"60.27%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1101},"crmLevel":5,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":116159388,"type":1,"supId":0,"prevId":0,"content":"??","text":"??","html":"??"}],"langContent":"EN"},{"id":116150533,"gmtCreate":1622782150122,"gmtModify":1704191111719,"author":{"id":"3574409130628325","authorId":"3574409130628325","name":"求老师指点","avatar":"https://static.tigerbbs.com/9f37c6fe3f11098991d08587e5b22a23","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3574409130628325","authorIdStr":"3574409130628325"},"htmlText":"????","listText":"????","text":"????","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/116150533","repostId":1128349956,"repostType":4,"repost":{"id":"1128349956","kind":"news","pubTimestamp":1622767522,"share":"https://ttm.financial/m/news/1128349956?lang=&edition=fundamental","pubTime":"2021-06-04 08:45","market":"hk","language":"en","title":"Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues","url":"https://stock-news.laohu8.com/highlight/detail?id=1128349956","media":"CNBC","summary":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% ","content":"<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-04 08:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","06688":"蚂蚁集团","BABA":"阿里巴巴"},"source_url":"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1128349956","content_text":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\nGUANGZHOU, China — China has given its approval to Ant Group to operate a consumer finance company, a key positive step in the forced restructuring of its business just months after regulators slammed the brakes on its record-breaking listing.\nAnt will hold a 50% stake in the new entity and contribute 4 billion Chinese yuan ($625.93 million) in registered capital, the China Banking and Insurance Regulatory Commission said on Thursday.\nAnother six shareholders will contribute 4 billion yuan and hold the remaining 50%. The company will be registered in the southwestern city of Chongqing with a total registered capital of 8 billion yuan.\nThe business will be able to give out personal loans and issue bonds among other things. The consumer finance company will also house Ant's credit businesses Huabei and Jiebei. These arecritical for the company and previously big drivers of revenue.\nIn November, Ant Group, which is controlled by billionaire Jack Ma, was set to carry out a record-breaking $34.5 billion initial public offering in Shanghai and Hong Kong.But Chinese authorities pulled the plug on the listing two daysbefore it was supposed to happen, citing regulatory concerns.\nThe People's Bank of China ordered Ant Group to come up with arectification plan in Decemberandapproved a series of steps in April. One of those includes Ant Group becoming a financial holding company, which could mean the company becomes regulated more like a bank.\nWhile that has not yet happened, the creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\"Under the guidance of regulators, Ant will work with other shareholders of Chongqing Ant Consumer Finance Co., Ltd. to serve the needs of consumers, and to continue enhancing the quality of financial services and risk management capabilities,\" a spokesperson for Ant Group said Thursday.\nBefore the suspension of the IPO, Chinese regulators were becoming concerned about technology companies offering bank-like services such as lending and the impact on financial stability.\nAnt Group offers loans which are independently underwritten by the company's partner financial institutions, which includes around 100 banks. In the six month ended of June 30, 2020, this accounted for around 39% of its revenues, the largest portion. The loans were previously offered via the Huabei and Jiebei products.\nNow Ant will be required to clearly label which financial institution is giving the loan, an unnamed CBRIC official told the 21st Century Business Herald publication. Any loans via the Huabei and Jiebei brand will need to be partly underwritten by Ant's consumer finance company, the report said. A person with knowledge of the matter, who preferred to remain anonymous, confirmed to CNBC that the details in the report were correct.\nThe scrutiny on Ant kicked off a regulatory assault on Ma's empire which included a$2.8 billion fine in an anti-monopolyinvestigation of e-commerce giantAlibaba.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":116127999,"gmtCreate":1622782068611,"gmtModify":1704191109221,"author":{"id":"3571919991986405","authorId":"3571919991986405","name":"ProsPaddles","avatar":"https://static.tigerbbs.com/5743775abc150fab8749a749f0511b63","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3571919991986405","authorIdStr":"3571919991986405"},"htmlText":"Alibaba to the ?!&nbsp;","listText":"Alibaba to the ?!&nbsp;","text":"Alibaba to the ?!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/116127999","repostId":1128349956,"repostType":2,"repost":{"id":"1128349956","kind":"news","pubTimestamp":1622767522,"share":"https://ttm.financial/m/news/1128349956?lang=&edition=fundamental","pubTime":"2021-06-04 08:45","market":"hk","language":"en","title":"Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues","url":"https://stock-news.laohu8.com/highlight/detail?id=1128349956","media":"CNBC","summary":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% ","content":"<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-04 08:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","06688":"蚂蚁集团","BABA":"阿里巴巴"},"source_url":"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1128349956","content_text":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\nGUANGZHOU, China — China has given its approval to Ant Group to operate a consumer finance company, a key positive step in the forced restructuring of its business just months after regulators slammed the brakes on its record-breaking listing.\nAnt will hold a 50% stake in the new entity and contribute 4 billion Chinese yuan ($625.93 million) in registered capital, the China Banking and Insurance Regulatory Commission said on Thursday.\nAnother six shareholders will contribute 4 billion yuan and hold the remaining 50%. The company will be registered in the southwestern city of Chongqing with a total registered capital of 8 billion yuan.\nThe business will be able to give out personal loans and issue bonds among other things. The consumer finance company will also house Ant's credit businesses Huabei and Jiebei. These arecritical for the company and previously big drivers of revenue.\nIn November, Ant Group, which is controlled by billionaire Jack Ma, was set to carry out a record-breaking $34.5 billion initial public offering in Shanghai and Hong Kong.But Chinese authorities pulled the plug on the listing two daysbefore it was supposed to happen, citing regulatory concerns.\nThe People's Bank of China ordered Ant Group to come up with arectification plan in Decemberandapproved a series of steps in April. One of those includes Ant Group becoming a financial holding company, which could mean the company becomes regulated more like a bank.\nWhile that has not yet happened, the creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\"Under the guidance of regulators, Ant will work with other shareholders of Chongqing Ant Consumer Finance Co., Ltd. to serve the needs of consumers, and to continue enhancing the quality of financial services and risk management capabilities,\" a spokesperson for Ant Group said Thursday.\nBefore the suspension of the IPO, Chinese regulators were becoming concerned about technology companies offering bank-like services such as lending and the impact on financial stability.\nAnt Group offers loans which are independently underwritten by the company's partner financial institutions, which includes around 100 banks. In the six month ended of June 30, 2020, this accounted for around 39% of its revenues, the largest portion. The loans were previously offered via the Huabei and Jiebei products.\nNow Ant will be required to clearly label which financial institution is giving the loan, an unnamed CBRIC official told the 21st Century Business Herald publication. Any loans via the Huabei and Jiebei brand will need to be partly underwritten by Ant's consumer finance company, the report said. A person with knowledge of the matter, who preferred to remain anonymous, confirmed to CNBC that the details in the report were correct.\nThe scrutiny on Ant kicked off a regulatory assault on Ma's empire which included a$2.8 billion fine in an anti-monopolyinvestigation of e-commerce giantAlibaba.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4576334,"gmtCreate":1622788033337,"gmtModify":1663227942131,"authorId":3575410552110704,"author":{"id":3575410552110704,"idStr":"3575410552110704","authorId":3575410552110704,"name":"Winner168","avatar":"https://static.tigerbbs.com/a9a80312562b6000414b8ef5ff5b400f","vip":1,"crmLevel":8,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":116127999,"type":1,"supId":0,"prevId":0,"content":"I am also waiting","text":"I am also waiting","html":"I am also waiting"}],"langContent":"EN"},{"id":116193862,"gmtCreate":1622778682056,"gmtModify":1704191031743,"author":{"id":"3581852273201777","authorId":"3581852273201777","name":"sharonyim","avatar":"https://static.tigerbbs.com/00f79e45ab6c11af64432ccbb28a68c5","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581852273201777","authorIdStr":"3581852273201777"},"htmlText":"pls comment and like ?","listText":"pls comment and like ?","text":"pls comment and like ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/116193862","repostId":1128349956,"repostType":4,"repost":{"id":"1128349956","kind":"news","pubTimestamp":1622767522,"share":"https://ttm.financial/m/news/1128349956?lang=&edition=fundamental","pubTime":"2021-06-04 08:45","market":"hk","language":"en","title":"Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues","url":"https://stock-news.laohu8.com/highlight/detail?id=1128349956","media":"CNBC","summary":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% ","content":"<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-04 08:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","06688":"蚂蚁集团","BABA":"阿里巴巴"},"source_url":"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1128349956","content_text":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\nGUANGZHOU, China — China has given its approval to Ant Group to operate a consumer finance company, a key positive step in the forced restructuring of its business just months after regulators slammed the brakes on its record-breaking listing.\nAnt will hold a 50% stake in the new entity and contribute 4 billion Chinese yuan ($625.93 million) in registered capital, the China Banking and Insurance Regulatory Commission said on Thursday.\nAnother six shareholders will contribute 4 billion yuan and hold the remaining 50%. The company will be registered in the southwestern city of Chongqing with a total registered capital of 8 billion yuan.\nThe business will be able to give out personal loans and issue bonds among other things. The consumer finance company will also house Ant's credit businesses Huabei and Jiebei. These arecritical for the company and previously big drivers of revenue.\nIn November, Ant Group, which is controlled by billionaire Jack Ma, was set to carry out a record-breaking $34.5 billion initial public offering in Shanghai and Hong Kong.But Chinese authorities pulled the plug on the listing two daysbefore it was supposed to happen, citing regulatory concerns.\nThe People's Bank of China ordered Ant Group to come up with arectification plan in Decemberandapproved a series of steps in April. One of those includes Ant Group becoming a financial holding company, which could mean the company becomes regulated more like a bank.\nWhile that has not yet happened, the creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\"Under the guidance of regulators, Ant will work with other shareholders of Chongqing Ant Consumer Finance Co., Ltd. to serve the needs of consumers, and to continue enhancing the quality of financial services and risk management capabilities,\" a spokesperson for Ant Group said Thursday.\nBefore the suspension of the IPO, Chinese regulators were becoming concerned about technology companies offering bank-like services such as lending and the impact on financial stability.\nAnt Group offers loans which are independently underwritten by the company's partner financial institutions, which includes around 100 banks. In the six month ended of June 30, 2020, this accounted for around 39% of its revenues, the largest portion. The loans were previously offered via the Huabei and Jiebei products.\nNow Ant will be required to clearly label which financial institution is giving the loan, an unnamed CBRIC official told the 21st Century Business Herald publication. Any loans via the Huabei and Jiebei brand will need to be partly underwritten by Ant's consumer finance company, the report said. A person with knowledge of the matter, who preferred to remain anonymous, confirmed to CNBC that the details in the report were correct.\nThe scrutiny on Ant kicked off a regulatory assault on Ma's empire which included a$2.8 billion fine in an anti-monopolyinvestigation of e-commerce giantAlibaba.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4577025,"gmtCreate":1622793524484,"gmtModify":1663227942251,"authorId":3585862393512500,"author":{"id":3585862393512500,"idStr":"3585862393512500","authorId":3585862393512500,"name":"KlWong","avatar":"https://static.tigerbbs.com/b20610400ddcc33719ca6767c3e3fbde","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":116193862,"type":1,"supId":0,"prevId":0,"content":"Done","text":"Done","html":"Done"},{"id":4575417,"gmtCreate":1622782153450,"gmtModify":1663227934431,"authorId":3575541782223727,"author":{"id":3575541782223727,"idStr":"3575541782223727","authorId":3575541782223727,"name":"daniao","avatar":"https://static.tigerbbs.com/f1193bc7847be1da820c2d94723471b2","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":116193862,"type":1,"supId":0,"prevId":0,"content":"Ok done ols help me too","text":"Ok done ols help me too","html":"Ok done ols help me too"}],"langContent":"EN"},{"id":116373084,"gmtCreate":1622777344348,"gmtModify":1704191002135,"author":{"id":"3577604413370961","authorId":"3577604413370961","name":"iHuat","avatar":"https://static.tigerbbs.com/ba908ea2f329e3dce63ffec884debf23","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3577604413370961","authorIdStr":"3577604413370961"},"htmlText":"This is great news . What a year it has been for Alibaba&nbsp;","listText":"This is great news . What a year it has been for Alibaba&nbsp;","text":"This is great news . What a year it has been for Alibaba","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/116373084","repostId":1128349956,"repostType":4,"repost":{"id":"1128349956","kind":"news","pubTimestamp":1622767522,"share":"https://ttm.financial/m/news/1128349956?lang=&edition=fundamental","pubTime":"2021-06-04 08:45","market":"hk","language":"en","title":"Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues","url":"https://stock-news.laohu8.com/highlight/detail?id=1128349956","media":"CNBC","summary":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% ","content":"<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-04 08:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","06688":"蚂蚁集团","BABA":"阿里巴巴"},"source_url":"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1128349956","content_text":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\nGUANGZHOU, China — China has given its approval to Ant Group to operate a consumer finance company, a key positive step in the forced restructuring of its business just months after regulators slammed the brakes on its record-breaking listing.\nAnt will hold a 50% stake in the new entity and contribute 4 billion Chinese yuan ($625.93 million) in registered capital, the China Banking and Insurance Regulatory Commission said on Thursday.\nAnother six shareholders will contribute 4 billion yuan and hold the remaining 50%. The company will be registered in the southwestern city of Chongqing with a total registered capital of 8 billion yuan.\nThe business will be able to give out personal loans and issue bonds among other things. The consumer finance company will also house Ant's credit businesses Huabei and Jiebei. These arecritical for the company and previously big drivers of revenue.\nIn November, Ant Group, which is controlled by billionaire Jack Ma, was set to carry out a record-breaking $34.5 billion initial public offering in Shanghai and Hong Kong.But Chinese authorities pulled the plug on the listing two daysbefore it was supposed to happen, citing regulatory concerns.\nThe People's Bank of China ordered Ant Group to come up with arectification plan in Decemberandapproved a series of steps in April. One of those includes Ant Group becoming a financial holding company, which could mean the company becomes regulated more like a bank.\nWhile that has not yet happened, the creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\"Under the guidance of regulators, Ant will work with other shareholders of Chongqing Ant Consumer Finance Co., Ltd. to serve the needs of consumers, and to continue enhancing the quality of financial services and risk management capabilities,\" a spokesperson for Ant Group said Thursday.\nBefore the suspension of the IPO, Chinese regulators were becoming concerned about technology companies offering bank-like services such as lending and the impact on financial stability.\nAnt Group offers loans which are independently underwritten by the company's partner financial institutions, which includes around 100 banks. In the six month ended of June 30, 2020, this accounted for around 39% of its revenues, the largest portion. The loans were previously offered via the Huabei and Jiebei products.\nNow Ant will be required to clearly label which financial institution is giving the loan, an unnamed CBRIC official told the 21st Century Business Herald publication. Any loans via the Huabei and Jiebei brand will need to be partly underwritten by Ant's consumer finance company, the report said. A person with knowledge of the matter, who preferred to remain anonymous, confirmed to CNBC that the details in the report were correct.\nThe scrutiny on Ant kicked off a regulatory assault on Ma's empire which included a$2.8 billion fine in an anti-monopolyinvestigation of e-commerce giantAlibaba.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4574630,"gmtCreate":1622779116023,"gmtModify":1663227934541,"authorId":3571130391288455,"author":{"id":3571130391288455,"idStr":"3571130391288455","authorId":3571130391288455,"name":"Index_","avatar":"https://static.tigerbbs.com/dc0d97dba3e4e81e37a8eaa5687c85c6","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":116373084,"type":1,"supId":0,"prevId":0,"content":"Focus on what they do and not what they say. As of currently, I still see big boys selling","text":"Focus on what they do and not what they say. As of currently, I still see big boys selling","html":"Focus on what they do and not what they say. As of currently, I still see big boys selling"}],"langContent":"EN"},{"id":116341017,"gmtCreate":1622776882339,"gmtModify":1704190990557,"author":{"id":"3584520268259172","authorId":"3584520268259172","name":"Kucing","avatar":"https://static.tigerbbs.com/3c4942db49a9ed9bfaecacc7837dec2f","vip":1,"crmLevel":6,"crmLevelSwitch":1,"idStr":"3584520268259172","authorIdStr":"3584520268259172"},"htmlText":"good news! plsss like and comment..&nbsp;","listText":"good news! plsss like and comment..&nbsp;","text":"good news! plsss like and comment..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/116341017","repostId":1128349956,"repostType":2,"repost":{"id":"1128349956","kind":"news","pubTimestamp":1622767522,"share":"https://ttm.financial/m/news/1128349956?lang=&edition=fundamental","pubTime":"2021-06-04 08:45","market":"hk","language":"en","title":"Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues","url":"https://stock-news.laohu8.com/highlight/detail?id=1128349956","media":"CNBC","summary":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% ","content":"<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-04 08:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","06688":"蚂蚁集团","BABA":"阿里巴巴"},"source_url":"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1128349956","content_text":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\nGUANGZHOU, China — China has given its approval to Ant Group to operate a consumer finance company, a key positive step in the forced restructuring of its business just months after regulators slammed the brakes on its record-breaking listing.\nAnt will hold a 50% stake in the new entity and contribute 4 billion Chinese yuan ($625.93 million) in registered capital, the China Banking and Insurance Regulatory Commission said on Thursday.\nAnother six shareholders will contribute 4 billion yuan and hold the remaining 50%. The company will be registered in the southwestern city of Chongqing with a total registered capital of 8 billion yuan.\nThe business will be able to give out personal loans and issue bonds among other things. The consumer finance company will also house Ant's credit businesses Huabei and Jiebei. These arecritical for the company and previously big drivers of revenue.\nIn November, Ant Group, which is controlled by billionaire Jack Ma, was set to carry out a record-breaking $34.5 billion initial public offering in Shanghai and Hong Kong.But Chinese authorities pulled the plug on the listing two daysbefore it was supposed to happen, citing regulatory concerns.\nThe People's Bank of China ordered Ant Group to come up with arectification plan in Decemberandapproved a series of steps in April. One of those includes Ant Group becoming a financial holding company, which could mean the company becomes regulated more like a bank.\nWhile that has not yet happened, the creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\"Under the guidance of regulators, Ant will work with other shareholders of Chongqing Ant Consumer Finance Co., Ltd. to serve the needs of consumers, and to continue enhancing the quality of financial services and risk management capabilities,\" a spokesperson for Ant Group said Thursday.\nBefore the suspension of the IPO, Chinese regulators were becoming concerned about technology companies offering bank-like services such as lending and the impact on financial stability.\nAnt Group offers loans which are independently underwritten by the company's partner financial institutions, which includes around 100 banks. In the six month ended of June 30, 2020, this accounted for around 39% of its revenues, the largest portion. The loans were previously offered via the Huabei and Jiebei products.\nNow Ant will be required to clearly label which financial institution is giving the loan, an unnamed CBRIC official told the 21st Century Business Herald publication. Any loans via the Huabei and Jiebei brand will need to be partly underwritten by Ant's consumer finance company, the report said. A person with knowledge of the matter, who preferred to remain anonymous, confirmed to CNBC that the details in the report were correct.\nThe scrutiny on Ant kicked off a regulatory assault on Ma's empire which included a$2.8 billion fine in an anti-monopolyinvestigation of e-commerce giantAlibaba.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":116380961,"gmtCreate":1622774263853,"gmtModify":1704190930089,"author":{"id":"3568711795455809","authorId":"3568711795455809","name":"xwteric","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3568711795455809","authorIdStr":"3568711795455809"},"htmlText":"ok. pls comment back","listText":"ok. pls comment back","text":"ok. pls comment back","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/116380961","repostId":1128349956,"repostType":4,"repost":{"id":"1128349956","kind":"news","pubTimestamp":1622767522,"share":"https://ttm.financial/m/news/1128349956?lang=&edition=fundamental","pubTime":"2021-06-04 08:45","market":"hk","language":"en","title":"Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues","url":"https://stock-news.laohu8.com/highlight/detail?id=1128349956","media":"CNBC","summary":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% ","content":"<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-04 08:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","06688":"蚂蚁集团","BABA":"阿里巴巴"},"source_url":"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1128349956","content_text":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\nGUANGZHOU, China — China has given its approval to Ant Group to operate a consumer finance company, a key positive step in the forced restructuring of its business just months after regulators slammed the brakes on its record-breaking listing.\nAnt will hold a 50% stake in the new entity and contribute 4 billion Chinese yuan ($625.93 million) in registered capital, the China Banking and Insurance Regulatory Commission said on Thursday.\nAnother six shareholders will contribute 4 billion yuan and hold the remaining 50%. The company will be registered in the southwestern city of Chongqing with a total registered capital of 8 billion yuan.\nThe business will be able to give out personal loans and issue bonds among other things. The consumer finance company will also house Ant's credit businesses Huabei and Jiebei. These arecritical for the company and previously big drivers of revenue.\nIn November, Ant Group, which is controlled by billionaire Jack Ma, was set to carry out a record-breaking $34.5 billion initial public offering in Shanghai and Hong Kong.But Chinese authorities pulled the plug on the listing two daysbefore it was supposed to happen, citing regulatory concerns.\nThe People's Bank of China ordered Ant Group to come up with arectification plan in Decemberandapproved a series of steps in April. One of those includes Ant Group becoming a financial holding company, which could mean the company becomes regulated more like a bank.\nWhile that has not yet happened, the creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\"Under the guidance of regulators, Ant will work with other shareholders of Chongqing Ant Consumer Finance Co., Ltd. to serve the needs of consumers, and to continue enhancing the quality of financial services and risk management capabilities,\" a spokesperson for Ant Group said Thursday.\nBefore the suspension of the IPO, Chinese regulators were becoming concerned about technology companies offering bank-like services such as lending and the impact on financial stability.\nAnt Group offers loans which are independently underwritten by the company's partner financial institutions, which includes around 100 banks. In the six month ended of June 30, 2020, this accounted for around 39% of its revenues, the largest portion. The loans were previously offered via the Huabei and Jiebei products.\nNow Ant will be required to clearly label which financial institution is giving the loan, an unnamed CBRIC official told the 21st Century Business Herald publication. Any loans via the Huabei and Jiebei brand will need to be partly underwritten by Ant's consumer finance company, the report said. A person with knowledge of the matter, who preferred to remain anonymous, confirmed to CNBC that the details in the report were correct.\nThe scrutiny on Ant kicked off a regulatory assault on Ma's empire which included a$2.8 billion fine in an anti-monopolyinvestigation of e-commerce giantAlibaba.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4609135,"gmtCreate":1623029695920,"gmtModify":1663228088343,"authorId":3568711795455809,"author":{"id":3568711795455809,"idStr":"3568711795455809","authorId":3568711795455809,"name":"xwteric","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":116380961,"type":1,"supId":4597359,"prevId":0,"content":"<u>ok</u>","text":"<u>ok</u>","html":"<u>ok</u>"},{"id":4597359,"gmtCreate":1622943362439,"gmtModify":1663228033630,"authorId":3575688888451618,"author":{"id":3575688888451618,"idStr":"3575688888451618","authorId":3575688888451618,"name":"Niki2307","avatar":"https://static.tigerbbs.com/76a9bfe7f6ca2e96a15f98f0d050e22c","vip":1,"currentWearingBadge":{"badgeId":"1026c425416b44e0aac28c11a0848493-2","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Senior Tiger","description":"Join the tiger community for 1000 days","bigImgUrl":"https://static.tigerbbs.com/0063fb68ea29c9ae6858c58630e182d5","smallImgUrl":"https://static.tigerbbs.com/96c699a93be4214d4b49aea6a5a5d1a4","grayImgUrl":"https://static.tigerbbs.com/35b0e542a9ff77046ed69ef602bc105d","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.11.04","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1001},"crmLevel":3,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":116380961,"type":1,"supId":0,"prevId":0,"content":"???","text":"???","html":"???"},{"id":4574471,"gmtCreate":1622778235121,"gmtModify":1663227931530,"authorId":3573721781255613,"author":{"id":3573721781255613,"idStr":"3573721781255613","authorId":3573721781255613,"name":"szueyann","avatar":"https://static.tigerbbs.com/cba9c6b1e785a9cf7301a7e6a2ff2354","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":116380961,"type":1,"supId":0,"prevId":0,"content":"<u>ok</u>","text":"<u>ok</u>","html":"<u>ok</u>"},{"id":4573737,"gmtCreate":1622775105064,"gmtModify":1663227929334,"authorId":3582063338362819,"author":{"id":3582063338362819,"idStr":"3582063338362819","authorId":3582063338362819,"name":"douknowdaway","avatar":"https://static.tigerbbs.com/fe319e138739a2e67529fe38221667c8","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":116380961,"type":1,"supId":0,"prevId":0,"content":"commented. pls reply <u>back</u>","text":"commented. pls reply <u>back</u>","html":"commented. pls reply <u>back</u>"}],"langContent":"EN"},{"id":116315161,"gmtCreate":1622774093353,"gmtModify":1704190926149,"author":{"id":"3547255265048867","authorId":"3547255265048867","name":"正和游戏ing","avatar":"https://static.tigerbbs.com/717a0f38ebb138b5ec46291b0079105a","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3547255265048867","authorIdStr":"3547255265048867"},"htmlText":"昨天已重倉","listText":"昨天已重倉","text":"昨天已重倉","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/116315161","repostId":1128349956,"repostType":4,"repost":{"id":"1128349956","kind":"news","pubTimestamp":1622767522,"share":"https://ttm.financial/m/news/1128349956?lang=&edition=fundamental","pubTime":"2021-06-04 08:45","market":"hk","language":"en","title":"Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues","url":"https://stock-news.laohu8.com/highlight/detail?id=1128349956","media":"CNBC","summary":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% ","content":"<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-04 08:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","06688":"蚂蚁集团","BABA":"阿里巴巴"},"source_url":"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1128349956","content_text":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\nGUANGZHOU, China — China has given its approval to Ant Group to operate a consumer finance company, a key positive step in the forced restructuring of its business just months after regulators slammed the brakes on its record-breaking listing.\nAnt will hold a 50% stake in the new entity and contribute 4 billion Chinese yuan ($625.93 million) in registered capital, the China Banking and Insurance Regulatory Commission said on Thursday.\nAnother six shareholders will contribute 4 billion yuan and hold the remaining 50%. The company will be registered in the southwestern city of Chongqing with a total registered capital of 8 billion yuan.\nThe business will be able to give out personal loans and issue bonds among other things. The consumer finance company will also house Ant's credit businesses Huabei and Jiebei. These arecritical for the company and previously big drivers of revenue.\nIn November, Ant Group, which is controlled by billionaire Jack Ma, was set to carry out a record-breaking $34.5 billion initial public offering in Shanghai and Hong Kong.But Chinese authorities pulled the plug on the listing two daysbefore it was supposed to happen, citing regulatory concerns.\nThe People's Bank of China ordered Ant Group to come up with arectification plan in Decemberandapproved a series of steps in April. One of those includes Ant Group becoming a financial holding company, which could mean the company becomes regulated more like a bank.\nWhile that has not yet happened, the creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\"Under the guidance of regulators, Ant will work with other shareholders of Chongqing Ant Consumer Finance Co., Ltd. to serve the needs of consumers, and to continue enhancing the quality of financial services and risk management capabilities,\" a spokesperson for Ant Group said Thursday.\nBefore the suspension of the IPO, Chinese regulators were becoming concerned about technology companies offering bank-like services such as lending and the impact on financial stability.\nAnt Group offers loans which are independently underwritten by the company's partner financial institutions, which includes around 100 banks. In the six month ended of June 30, 2020, this accounted for around 39% of its revenues, the largest portion. The loans were previously offered via the Huabei and Jiebei products.\nNow Ant will be required to clearly label which financial institution is giving the loan, an unnamed CBRIC official told the 21st Century Business Herald publication. Any loans via the Huabei and Jiebei brand will need to be partly underwritten by Ant's consumer finance company, the report said. A person with knowledge of the matter, who preferred to remain anonymous, confirmed to CNBC that the details in the report were correct.\nThe scrutiny on Ant kicked off a regulatory assault on Ma's empire which included a$2.8 billion fine in an anti-monopolyinvestigation of e-commerce giantAlibaba.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":116319020,"gmtCreate":1622773803060,"gmtModify":1704190917336,"author":{"id":"3568465315215545","authorId":"3568465315215545","name":"Hunter88","avatar":"https://static.tigerbbs.com/86703ca12fc27292ee7240b13fa4e166","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"3568465315215545","authorIdStr":"3568465315215545"},"htmlText":"Well done","listText":"Well done","text":"Well done","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/116319020","repostId":1128349956,"repostType":4,"repost":{"id":"1128349956","kind":"news","pubTimestamp":1622767522,"share":"https://ttm.financial/m/news/1128349956?lang=&edition=fundamental","pubTime":"2021-06-04 08:45","market":"hk","language":"en","title":"Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues","url":"https://stock-news.laohu8.com/highlight/detail?id=1128349956","media":"CNBC","summary":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% ","content":"<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-04 08:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","06688":"蚂蚁集团","BABA":"阿里巴巴"},"source_url":"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1128349956","content_text":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\nGUANGZHOU, China — China has given its approval to Ant Group to operate a consumer finance company, a key positive step in the forced restructuring of its business just months after regulators slammed the brakes on its record-breaking listing.\nAnt will hold a 50% stake in the new entity and contribute 4 billion Chinese yuan ($625.93 million) in registered capital, the China Banking and Insurance Regulatory Commission said on Thursday.\nAnother six shareholders will contribute 4 billion yuan and hold the remaining 50%. The company will be registered in the southwestern city of Chongqing with a total registered capital of 8 billion yuan.\nThe business will be able to give out personal loans and issue bonds among other things. The consumer finance company will also house Ant's credit businesses Huabei and Jiebei. These arecritical for the company and previously big drivers of revenue.\nIn November, Ant Group, which is controlled by billionaire Jack Ma, was set to carry out a record-breaking $34.5 billion initial public offering in Shanghai and Hong Kong.But Chinese authorities pulled the plug on the listing two daysbefore it was supposed to happen, citing regulatory concerns.\nThe People's Bank of China ordered Ant Group to come up with arectification plan in Decemberandapproved a series of steps in April. One of those includes Ant Group becoming a financial holding company, which could mean the company becomes regulated more like a bank.\nWhile that has not yet happened, the creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\"Under the guidance of regulators, Ant will work with other shareholders of Chongqing Ant Consumer Finance Co., Ltd. to serve the needs of consumers, and to continue enhancing the quality of financial services and risk management capabilities,\" a spokesperson for Ant Group said Thursday.\nBefore the suspension of the IPO, Chinese regulators were becoming concerned about technology companies offering bank-like services such as lending and the impact on financial stability.\nAnt Group offers loans which are independently underwritten by the company's partner financial institutions, which includes around 100 banks. In the six month ended of June 30, 2020, this accounted for around 39% of its revenues, the largest portion. The loans were previously offered via the Huabei and Jiebei products.\nNow Ant will be required to clearly label which financial institution is giving the loan, an unnamed CBRIC official told the 21st Century Business Herald publication. Any loans via the Huabei and Jiebei brand will need to be partly underwritten by Ant's consumer finance company, the report said. A person with knowledge of the matter, who preferred to remain anonymous, confirmed to CNBC that the details in the report were correct.\nThe scrutiny on Ant kicked off a regulatory assault on Ma's empire which included a$2.8 billion fine in an anti-monopolyinvestigation of e-commerce giantAlibaba.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":116332460,"gmtCreate":1622773568650,"gmtModify":1704190911140,"author":{"id":"3565231922969401","authorId":"3565231922969401","name":"MJ89","avatar":"https://static.tigerbbs.com/51550e2d93895db65c382352cc432f93","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3565231922969401","authorIdStr":"3565231922969401"},"htmlText":"Tell me your opinion about this news...","listText":"Tell me your opinion about this news...","text":"Tell me your opinion about this news...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/116332460","repostId":1128349956,"repostType":4,"repost":{"id":"1128349956","kind":"news","pubTimestamp":1622767522,"share":"https://ttm.financial/m/news/1128349956?lang=&edition=fundamental","pubTime":"2021-06-04 08:45","market":"hk","language":"en","title":"Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues","url":"https://stock-news.laohu8.com/highlight/detail?id=1128349956","media":"CNBC","summary":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% ","content":"<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-04 08:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","06688":"蚂蚁集团","BABA":"阿里巴巴"},"source_url":"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1128349956","content_text":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\nGUANGZHOU, China — China has given its approval to Ant Group to operate a consumer finance company, a key positive step in the forced restructuring of its business just months after regulators slammed the brakes on its record-breaking listing.\nAnt will hold a 50% stake in the new entity and contribute 4 billion Chinese yuan ($625.93 million) in registered capital, the China Banking and Insurance Regulatory Commission said on Thursday.\nAnother six shareholders will contribute 4 billion yuan and hold the remaining 50%. The company will be registered in the southwestern city of Chongqing with a total registered capital of 8 billion yuan.\nThe business will be able to give out personal loans and issue bonds among other things. The consumer finance company will also house Ant's credit businesses Huabei and Jiebei. These arecritical for the company and previously big drivers of revenue.\nIn November, Ant Group, which is controlled by billionaire Jack Ma, was set to carry out a record-breaking $34.5 billion initial public offering in Shanghai and Hong Kong.But Chinese authorities pulled the plug on the listing two daysbefore it was supposed to happen, citing regulatory concerns.\nThe People's Bank of China ordered Ant Group to come up with arectification plan in Decemberandapproved a series of steps in April. One of those includes Ant Group becoming a financial holding company, which could mean the company becomes regulated more like a bank.\nWhile that has not yet happened, the creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\"Under the guidance of regulators, Ant will work with other shareholders of Chongqing Ant Consumer Finance Co., Ltd. to serve the needs of consumers, and to continue enhancing the quality of financial services and risk management capabilities,\" a spokesperson for Ant Group said Thursday.\nBefore the suspension of the IPO, Chinese regulators were becoming concerned about technology companies offering bank-like services such as lending and the impact on financial stability.\nAnt Group offers loans which are independently underwritten by the company's partner financial institutions, which includes around 100 banks. In the six month ended of June 30, 2020, this accounted for around 39% of its revenues, the largest portion. The loans were previously offered via the Huabei and Jiebei products.\nNow Ant will be required to clearly label which financial institution is giving the loan, an unnamed CBRIC official told the 21st Century Business Herald publication. Any loans via the Huabei and Jiebei brand will need to be partly underwritten by Ant's consumer finance company, the report said. A person with knowledge of the matter, who preferred to remain anonymous, confirmed to CNBC that the details in the report were correct.\nThe scrutiny on Ant kicked off a regulatory assault on Ma's empire which included a$2.8 billion fine in an anti-monopolyinvestigation of e-commerce giantAlibaba.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":116331398,"gmtCreate":1622773311214,"gmtModify":1704190905921,"author":{"id":"3562394528628792","authorId":"3562394528628792","name":"Jingsoon","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3562394528628792","authorIdStr":"3562394528628792"},"htmlText":"要買嗎","listText":"要買嗎","text":"要買嗎","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/116331398","repostId":1128349956,"repostType":4,"repost":{"id":"1128349956","kind":"news","pubTimestamp":1622767522,"share":"https://ttm.financial/m/news/1128349956?lang=&edition=fundamental","pubTime":"2021-06-04 08:45","market":"hk","language":"en","title":"Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues","url":"https://stock-news.laohu8.com/highlight/detail?id=1128349956","media":"CNBC","summary":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% ","content":"<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-04 08:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","06688":"蚂蚁集团","BABA":"阿里巴巴"},"source_url":"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1128349956","content_text":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\nGUANGZHOU, China — China has given its approval to Ant Group to operate a consumer finance company, a key positive step in the forced restructuring of its business just months after regulators slammed the brakes on its record-breaking listing.\nAnt will hold a 50% stake in the new entity and contribute 4 billion Chinese yuan ($625.93 million) in registered capital, the China Banking and Insurance Regulatory Commission said on Thursday.\nAnother six shareholders will contribute 4 billion yuan and hold the remaining 50%. The company will be registered in the southwestern city of Chongqing with a total registered capital of 8 billion yuan.\nThe business will be able to give out personal loans and issue bonds among other things. The consumer finance company will also house Ant's credit businesses Huabei and Jiebei. These arecritical for the company and previously big drivers of revenue.\nIn November, Ant Group, which is controlled by billionaire Jack Ma, was set to carry out a record-breaking $34.5 billion initial public offering in Shanghai and Hong Kong.But Chinese authorities pulled the plug on the listing two daysbefore it was supposed to happen, citing regulatory concerns.\nThe People's Bank of China ordered Ant Group to come up with arectification plan in Decemberandapproved a series of steps in April. One of those includes Ant Group becoming a financial holding company, which could mean the company becomes regulated more like a bank.\nWhile that has not yet happened, the creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\"Under the guidance of regulators, Ant will work with other shareholders of Chongqing Ant Consumer Finance Co., Ltd. to serve the needs of consumers, and to continue enhancing the quality of financial services and risk management capabilities,\" a spokesperson for Ant Group said Thursday.\nBefore the suspension of the IPO, Chinese regulators were becoming concerned about technology companies offering bank-like services such as lending and the impact on financial stability.\nAnt Group offers loans which are independently underwritten by the company's partner financial institutions, which includes around 100 banks. In the six month ended of June 30, 2020, this accounted for around 39% of its revenues, the largest portion. The loans were previously offered via the Huabei and Jiebei products.\nNow Ant will be required to clearly label which financial institution is giving the loan, an unnamed CBRIC official told the 21st Century Business Herald publication. Any loans via the Huabei and Jiebei brand will need to be partly underwritten by Ant's consumer finance company, the report said. A person with knowledge of the matter, who preferred to remain anonymous, confirmed to CNBC that the details in the report were correct.\nThe scrutiny on Ant kicked off a regulatory assault on Ma's empire which included a$2.8 billion fine in an anti-monopolyinvestigation of e-commerce giantAlibaba.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":116397804,"gmtCreate":1622773061108,"gmtModify":1704190900035,"author":{"id":"3551331974959956","authorId":"3551331974959956","name":"Huatkia168","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3551331974959956","authorIdStr":"3551331974959956"},"htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/116397804","repostId":1128349956,"repostType":4,"repost":{"id":"1128349956","kind":"news","pubTimestamp":1622767522,"share":"https://ttm.financial/m/news/1128349956?lang=&edition=fundamental","pubTime":"2021-06-04 08:45","market":"hk","language":"en","title":"Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues","url":"https://stock-news.laohu8.com/highlight/detail?id=1128349956","media":"CNBC","summary":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% ","content":"<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-04 08:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","06688":"蚂蚁集团","BABA":"阿里巴巴"},"source_url":"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1128349956","content_text":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\nGUANGZHOU, China — China has given its approval to Ant Group to operate a consumer finance company, a key positive step in the forced restructuring of its business just months after regulators slammed the brakes on its record-breaking listing.\nAnt will hold a 50% stake in the new entity and contribute 4 billion Chinese yuan ($625.93 million) in registered capital, the China Banking and Insurance Regulatory Commission said on Thursday.\nAnother six shareholders will contribute 4 billion yuan and hold the remaining 50%. The company will be registered in the southwestern city of Chongqing with a total registered capital of 8 billion yuan.\nThe business will be able to give out personal loans and issue bonds among other things. The consumer finance company will also house Ant's credit businesses Huabei and Jiebei. These arecritical for the company and previously big drivers of revenue.\nIn November, Ant Group, which is controlled by billionaire Jack Ma, was set to carry out a record-breaking $34.5 billion initial public offering in Shanghai and Hong Kong.But Chinese authorities pulled the plug on the listing two daysbefore it was supposed to happen, citing regulatory concerns.\nThe People's Bank of China ordered Ant Group to come up with arectification plan in Decemberandapproved a series of steps in April. One of those includes Ant Group becoming a financial holding company, which could mean the company becomes regulated more like a bank.\nWhile that has not yet happened, the creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\"Under the guidance of regulators, Ant will work with other shareholders of Chongqing Ant Consumer Finance Co., Ltd. to serve the needs of consumers, and to continue enhancing the quality of financial services and risk management capabilities,\" a spokesperson for Ant Group said Thursday.\nBefore the suspension of the IPO, Chinese regulators were becoming concerned about technology companies offering bank-like services such as lending and the impact on financial stability.\nAnt Group offers loans which are independently underwritten by the company's partner financial institutions, which includes around 100 banks. In the six month ended of June 30, 2020, this accounted for around 39% of its revenues, the largest portion. The loans were previously offered via the Huabei and Jiebei products.\nNow Ant will be required to clearly label which financial institution is giving the loan, an unnamed CBRIC official told the 21st Century Business Herald publication. Any loans via the Huabei and Jiebei brand will need to be partly underwritten by Ant's consumer finance company, the report said. A person with knowledge of the matter, who preferred to remain anonymous, confirmed to CNBC that the details in the report were correct.\nThe scrutiny on Ant kicked off a regulatory assault on Ma's empire which included a$2.8 billion fine in an anti-monopolyinvestigation of e-commerce giantAlibaba.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":116397056,"gmtCreate":1622773049075,"gmtModify":1704190899384,"author":{"id":"3571214732315276","authorId":"3571214732315276","name":"Alancheah","avatar":"https://static.tigerbbs.com/57f6b873ddda2726858a1e50a582822a","vip":1,"crmLevel":8,"crmLevelSwitch":0,"idStr":"3571214732315276","authorIdStr":"3571214732315276"},"htmlText":"Finance revolution started.","listText":"Finance revolution started.","text":"Finance revolution started.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/116397056","repostId":1128349956,"repostType":4,"repost":{"id":"1128349956","kind":"news","pubTimestamp":1622767522,"share":"https://ttm.financial/m/news/1128349956?lang=&edition=fundamental","pubTime":"2021-06-04 08:45","market":"hk","language":"en","title":"Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues","url":"https://stock-news.laohu8.com/highlight/detail?id=1128349956","media":"CNBC","summary":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% ","content":"<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-04 08:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","06688":"蚂蚁集团","BABA":"阿里巴巴"},"source_url":"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1128349956","content_text":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\nGUANGZHOU, China — China has given its approval to Ant Group to operate a consumer finance company, a key positive step in the forced restructuring of its business just months after regulators slammed the brakes on its record-breaking listing.\nAnt will hold a 50% stake in the new entity and contribute 4 billion Chinese yuan ($625.93 million) in registered capital, the China Banking and Insurance Regulatory Commission said on Thursday.\nAnother six shareholders will contribute 4 billion yuan and hold the remaining 50%. The company will be registered in the southwestern city of Chongqing with a total registered capital of 8 billion yuan.\nThe business will be able to give out personal loans and issue bonds among other things. The consumer finance company will also house Ant's credit businesses Huabei and Jiebei. These arecritical for the company and previously big drivers of revenue.\nIn November, Ant Group, which is controlled by billionaire Jack Ma, was set to carry out a record-breaking $34.5 billion initial public offering in Shanghai and Hong Kong.But Chinese authorities pulled the plug on the listing two daysbefore it was supposed to happen, citing regulatory concerns.\nThe People's Bank of China ordered Ant Group to come up with arectification plan in Decemberandapproved a series of steps in April. One of those includes Ant Group becoming a financial holding company, which could mean the company becomes regulated more like a bank.\nWhile that has not yet happened, the creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\"Under the guidance of regulators, Ant will work with other shareholders of Chongqing Ant Consumer Finance Co., Ltd. to serve the needs of consumers, and to continue enhancing the quality of financial services and risk management capabilities,\" a spokesperson for Ant Group said Thursday.\nBefore the suspension of the IPO, Chinese regulators were becoming concerned about technology companies offering bank-like services such as lending and the impact on financial stability.\nAnt Group offers loans which are independently underwritten by the company's partner financial institutions, which includes around 100 banks. In the six month ended of June 30, 2020, this accounted for around 39% of its revenues, the largest portion. The loans were previously offered via the Huabei and Jiebei products.\nNow Ant will be required to clearly label which financial institution is giving the loan, an unnamed CBRIC official told the 21st Century Business Herald publication. Any loans via the Huabei and Jiebei brand will need to be partly underwritten by Ant's consumer finance company, the report said. A person with knowledge of the matter, who preferred to remain anonymous, confirmed to CNBC that the details in the report were correct.\nThe scrutiny on Ant kicked off a regulatory assault on Ma's empire which included a$2.8 billion fine in an anti-monopolyinvestigation of e-commerce giantAlibaba.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":116396347,"gmtCreate":1622772880489,"gmtModify":1704190894615,"author":{"id":"3572436349218639","authorId":"3572436349218639","name":"bzlim","avatar":"https://static.tigerbbs.com/3b2aafaf14823285f7393917b6ff4f54","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3572436349218639","authorIdStr":"3572436349218639"},"htmlText":"I really am not worried to hold baba. Even if it drops more I will just buy more lower.&nbsp;","listText":"I really am not worried to hold baba. Even if it drops more I will just buy more lower.&nbsp;","text":"I really am not worried to hold baba. Even if it drops more I will just buy more lower.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/116396347","repostId":1128349956,"repostType":4,"repost":{"id":"1128349956","kind":"news","pubTimestamp":1622767522,"share":"https://ttm.financial/m/news/1128349956?lang=&edition=fundamental","pubTime":"2021-06-04 08:45","market":"hk","language":"en","title":"Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues","url":"https://stock-news.laohu8.com/highlight/detail?id=1128349956","media":"CNBC","summary":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% ","content":"<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-04 08:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","06688":"蚂蚁集团","BABA":"阿里巴巴"},"source_url":"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1128349956","content_text":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\nGUANGZHOU, China — China has given its approval to Ant Group to operate a consumer finance company, a key positive step in the forced restructuring of its business just months after regulators slammed the brakes on its record-breaking listing.\nAnt will hold a 50% stake in the new entity and contribute 4 billion Chinese yuan ($625.93 million) in registered capital, the China Banking and Insurance Regulatory Commission said on Thursday.\nAnother six shareholders will contribute 4 billion yuan and hold the remaining 50%. The company will be registered in the southwestern city of Chongqing with a total registered capital of 8 billion yuan.\nThe business will be able to give out personal loans and issue bonds among other things. The consumer finance company will also house Ant's credit businesses Huabei and Jiebei. These arecritical for the company and previously big drivers of revenue.\nIn November, Ant Group, which is controlled by billionaire Jack Ma, was set to carry out a record-breaking $34.5 billion initial public offering in Shanghai and Hong Kong.But Chinese authorities pulled the plug on the listing two daysbefore it was supposed to happen, citing regulatory concerns.\nThe People's Bank of China ordered Ant Group to come up with arectification plan in Decemberandapproved a series of steps in April. One of those includes Ant Group becoming a financial holding company, which could mean the company becomes regulated more like a bank.\nWhile that has not yet happened, the creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\"Under the guidance of regulators, Ant will work with other shareholders of Chongqing Ant Consumer Finance Co., Ltd. to serve the needs of consumers, and to continue enhancing the quality of financial services and risk management capabilities,\" a spokesperson for Ant Group said Thursday.\nBefore the suspension of the IPO, Chinese regulators were becoming concerned about technology companies offering bank-like services such as lending and the impact on financial stability.\nAnt Group offers loans which are independently underwritten by the company's partner financial institutions, which includes around 100 banks. In the six month ended of June 30, 2020, this accounted for around 39% of its revenues, the largest portion. The loans were previously offered via the Huabei and Jiebei products.\nNow Ant will be required to clearly label which financial institution is giving the loan, an unnamed CBRIC official told the 21st Century Business Herald publication. Any loans via the Huabei and Jiebei brand will need to be partly underwritten by Ant's consumer finance company, the report said. A person with knowledge of the matter, who preferred to remain anonymous, confirmed to CNBC that the details in the report were correct.\nThe scrutiny on Ant kicked off a regulatory assault on Ma's empire which included a$2.8 billion fine in an anti-monopolyinvestigation of e-commerce giantAlibaba.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4573678,"gmtCreate":1622774836345,"gmtModify":1663227929442,"authorId":3581505866102985,"author":{"id":3581505866102985,"idStr":"3581505866102985","authorId":3581505866102985,"name":"skyel","avatar":"https://static.tigerbbs.com/a4e416c9b1fabad56fbe0e086388d5b0","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":116396347,"type":1,"supId":0,"prevId":0,"content":"<u>Agree</u>","text":"<u>Agree</u>","html":"<u>Agree</u>"}],"langContent":"EN"},{"id":116399864,"gmtCreate":1622772702958,"gmtModify":1704190889528,"author":{"id":"3561975721283567","authorId":"3561975721283567","name":"WTurtle","avatar":"https://static.tigerbbs.com/f365603f5d6014baec364bc1bdd93afd","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3561975721283567","authorIdStr":"3561975721283567"},"htmlText":"Finally!! Any group is on first stage to IPO!!","listText":"Finally!! Any group is on first stage to IPO!!","text":"Finally!! Any group is on first stage to IPO!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/116399864","repostId":1128349956,"repostType":4,"repost":{"id":"1128349956","kind":"news","pubTimestamp":1622767522,"share":"https://ttm.financial/m/news/1128349956?lang=&edition=fundamental","pubTime":"2021-06-04 08:45","market":"hk","language":"en","title":"Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues","url":"https://stock-news.laohu8.com/highlight/detail?id=1128349956","media":"CNBC","summary":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% ","content":"<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-04 08:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","06688":"蚂蚁集团","BABA":"阿里巴巴"},"source_url":"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1128349956","content_text":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\nGUANGZHOU, China — China has given its approval to Ant Group to operate a consumer finance company, a key positive step in the forced restructuring of its business just months after regulators slammed the brakes on its record-breaking listing.\nAnt will hold a 50% stake in the new entity and contribute 4 billion Chinese yuan ($625.93 million) in registered capital, the China Banking and Insurance Regulatory Commission said on Thursday.\nAnother six shareholders will contribute 4 billion yuan and hold the remaining 50%. The company will be registered in the southwestern city of Chongqing with a total registered capital of 8 billion yuan.\nThe business will be able to give out personal loans and issue bonds among other things. The consumer finance company will also house Ant's credit businesses Huabei and Jiebei. These arecritical for the company and previously big drivers of revenue.\nIn November, Ant Group, which is controlled by billionaire Jack Ma, was set to carry out a record-breaking $34.5 billion initial public offering in Shanghai and Hong Kong.But Chinese authorities pulled the plug on the listing two daysbefore it was supposed to happen, citing regulatory concerns.\nThe People's Bank of China ordered Ant Group to come up with arectification plan in Decemberandapproved a series of steps in April. One of those includes Ant Group becoming a financial holding company, which could mean the company becomes regulated more like a bank.\nWhile that has not yet happened, the creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\"Under the guidance of regulators, Ant will work with other shareholders of Chongqing Ant Consumer Finance Co., Ltd. to serve the needs of consumers, and to continue enhancing the quality of financial services and risk management capabilities,\" a spokesperson for Ant Group said Thursday.\nBefore the suspension of the IPO, Chinese regulators were becoming concerned about technology companies offering bank-like services such as lending and the impact on financial stability.\nAnt Group offers loans which are independently underwritten by the company's partner financial institutions, which includes around 100 banks. In the six month ended of June 30, 2020, this accounted for around 39% of its revenues, the largest portion. The loans were previously offered via the Huabei and Jiebei products.\nNow Ant will be required to clearly label which financial institution is giving the loan, an unnamed CBRIC official told the 21st Century Business Herald publication. Any loans via the Huabei and Jiebei brand will need to be partly underwritten by Ant's consumer finance company, the report said. A person with knowledge of the matter, who preferred to remain anonymous, confirmed to CNBC that the details in the report were correct.\nThe scrutiny on Ant kicked off a regulatory assault on Ma's empire which included a$2.8 billion fine in an anti-monopolyinvestigation of e-commerce giantAlibaba.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":116307937,"gmtCreate":1622772611129,"gmtModify":1704190887723,"author":{"id":"3585862393512500","authorId":"3585862393512500","name":"KlWong","avatar":"https://static.tigerbbs.com/b20610400ddcc33719ca6767c3e3fbde","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3585862393512500","authorIdStr":"3585862393512500"},"htmlText":"Hm","listText":"Hm","text":"Hm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/116307937","repostId":1128349956,"repostType":4,"repost":{"id":"1128349956","kind":"news","pubTimestamp":1622767522,"share":"https://ttm.financial/m/news/1128349956?lang=&edition=fundamental","pubTime":"2021-06-04 08:45","market":"hk","language":"en","title":"Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues","url":"https://stock-news.laohu8.com/highlight/detail?id=1128349956","media":"CNBC","summary":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% ","content":"<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-04 08:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","06688":"蚂蚁集团","BABA":"阿里巴巴"},"source_url":"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1128349956","content_text":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\nGUANGZHOU, China — China has given its approval to Ant Group to operate a consumer finance company, a key positive step in the forced restructuring of its business just months after regulators slammed the brakes on its record-breaking listing.\nAnt will hold a 50% stake in the new entity and contribute 4 billion Chinese yuan ($625.93 million) in registered capital, the China Banking and Insurance Regulatory Commission said on Thursday.\nAnother six shareholders will contribute 4 billion yuan and hold the remaining 50%. The company will be registered in the southwestern city of Chongqing with a total registered capital of 8 billion yuan.\nThe business will be able to give out personal loans and issue bonds among other things. The consumer finance company will also house Ant's credit businesses Huabei and Jiebei. These arecritical for the company and previously big drivers of revenue.\nIn November, Ant Group, which is controlled by billionaire Jack Ma, was set to carry out a record-breaking $34.5 billion initial public offering in Shanghai and Hong Kong.But Chinese authorities pulled the plug on the listing two daysbefore it was supposed to happen, citing regulatory concerns.\nThe People's Bank of China ordered Ant Group to come up with arectification plan in Decemberandapproved a series of steps in April. One of those includes Ant Group becoming a financial holding company, which could mean the company becomes regulated more like a bank.\nWhile that has not yet happened, the creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\"Under the guidance of regulators, Ant will work with other shareholders of Chongqing Ant Consumer Finance Co., Ltd. to serve the needs of consumers, and to continue enhancing the quality of financial services and risk management capabilities,\" a spokesperson for Ant Group said Thursday.\nBefore the suspension of the IPO, Chinese regulators were becoming concerned about technology companies offering bank-like services such as lending and the impact on financial stability.\nAnt Group offers loans which are independently underwritten by the company's partner financial institutions, which includes around 100 banks. In the six month ended of June 30, 2020, this accounted for around 39% of its revenues, the largest portion. The loans were previously offered via the Huabei and Jiebei products.\nNow Ant will be required to clearly label which financial institution is giving the loan, an unnamed CBRIC official told the 21st Century Business Herald publication. Any loans via the Huabei and Jiebei brand will need to be partly underwritten by Ant's consumer finance company, the report said. A person with knowledge of the matter, who preferred to remain anonymous, confirmed to CNBC that the details in the report were correct.\nThe scrutiny on Ant kicked off a regulatory assault on Ma's empire which included a$2.8 billion fine in an anti-monopolyinvestigation of e-commerce giantAlibaba.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":116309573,"gmtCreate":1622772305692,"gmtModify":1704190877678,"author":{"id":"3556498218844440","authorId":"3556498218844440","name":"Damon_6050","avatar":"https://static.tigerbbs.com/9aaf172f19c0e8d89da07599130e48a4","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3556498218844440","authorIdStr":"3556498218844440"},"htmlText":"Guys gimme a comment please&nbsp;","listText":"Guys gimme a comment please&nbsp;","text":"Guys gimme a comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/116309573","repostId":1128349956,"repostType":4,"repost":{"id":"1128349956","kind":"news","pubTimestamp":1622767522,"share":"https://ttm.financial/m/news/1128349956?lang=&edition=fundamental","pubTime":"2021-06-04 08:45","market":"hk","language":"en","title":"Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues","url":"https://stock-news.laohu8.com/highlight/detail?id=1128349956","media":"CNBC","summary":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% ","content":"<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Jack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJack Ma's Ant Group gets nod to operate consumer finance firm, a key step in fixing regulatory issues\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-04 08:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","06688":"蚂蚁集团","BABA":"阿里巴巴"},"source_url":"https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1128349956","content_text":"KEY POINTS\n\nChina has approved Ant Group to operate a consumer finance company.\nAnt will hold a 50% stake in the new entity.\nThe creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\nGUANGZHOU, China — China has given its approval to Ant Group to operate a consumer finance company, a key positive step in the forced restructuring of its business just months after regulators slammed the brakes on its record-breaking listing.\nAnt will hold a 50% stake in the new entity and contribute 4 billion Chinese yuan ($625.93 million) in registered capital, the China Banking and Insurance Regulatory Commission said on Thursday.\nAnother six shareholders will contribute 4 billion yuan and hold the remaining 50%. The company will be registered in the southwestern city of Chongqing with a total registered capital of 8 billion yuan.\nThe business will be able to give out personal loans and issue bonds among other things. The consumer finance company will also house Ant's credit businesses Huabei and Jiebei. These arecritical for the company and previously big drivers of revenue.\nIn November, Ant Group, which is controlled by billionaire Jack Ma, was set to carry out a record-breaking $34.5 billion initial public offering in Shanghai and Hong Kong.But Chinese authorities pulled the plug on the listing two daysbefore it was supposed to happen, citing regulatory concerns.\nThe People's Bank of China ordered Ant Group to come up with arectification plan in Decemberandapproved a series of steps in April. One of those includes Ant Group becoming a financial holding company, which could mean the company becomes regulated more like a bank.\nWhile that has not yet happened, the creation and operation of a consumer finance company is a big first step for Ant Group to resolve its regulatory issues.\n\"Under the guidance of regulators, Ant will work with other shareholders of Chongqing Ant Consumer Finance Co., Ltd. to serve the needs of consumers, and to continue enhancing the quality of financial services and risk management capabilities,\" a spokesperson for Ant Group said Thursday.\nBefore the suspension of the IPO, Chinese regulators were becoming concerned about technology companies offering bank-like services such as lending and the impact on financial stability.\nAnt Group offers loans which are independently underwritten by the company's partner financial institutions, which includes around 100 banks. In the six month ended of June 30, 2020, this accounted for around 39% of its revenues, the largest portion. The loans were previously offered via the Huabei and Jiebei products.\nNow Ant will be required to clearly label which financial institution is giving the loan, an unnamed CBRIC official told the 21st Century Business Herald publication. Any loans via the Huabei and Jiebei brand will need to be partly underwritten by Ant's consumer finance company, the report said. A person with knowledge of the matter, who preferred to remain anonymous, confirmed to CNBC that the details in the report were correct.\nThe scrutiny on Ant kicked off a regulatory assault on Ma's empire which included a$2.8 billion fine in an anti-monopolyinvestigation of e-commerce giantAlibaba.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4573072,"gmtCreate":1622772442253,"gmtModify":1663227926548,"authorId":3573788625955643,"author":{"id":3573788625955643,"idStr":"3573788625955643","authorId":3573788625955643,"name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","vip":1,"currentWearingBadge":{"badgeId":"1026c425416b44e0aac28c11a0848493-2","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Senior Tiger","description":"Join the tiger community for 1000 days","bigImgUrl":"https://static.tigerbbs.com/0063fb68ea29c9ae6858c58630e182d5","smallImgUrl":"https://static.tigerbbs.com/96c699a93be4214d4b49aea6a5a5d1a4","grayImgUrl":"https://static.tigerbbs.com/35b0e542a9ff77046ed69ef602bc105d","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.10.13","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1001},"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":116309573,"type":1,"supId":0,"prevId":0,"content":"Like and comment pls","text":"Like and comment pls","html":"Like and comment pls"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":95,"commentSize":55,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}