China's Central Bank Agrees Ant Group's Alipay Has No Controller
Reuters2023-12-31
China's central bank has agreed that popular payment app Alipay has no controller following a sweeping business overhaul of Jack Ma's Ant Group, the fintech giant that owns the app, according to the website of the People's Bank of China.
In January, Ant Group said its founder Jack Ma will no longer control the fintech giant and give up most of his voting rights.
On Saturday, an Ant Group spokesperson said the corporate governance optimization announced on January 7 has been completed and it will not affect the company's day-to-day business operations.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
