1/15, 9:51 AM (Source: TeleTrader)
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Ant Group establishes a rectification working team - PBoC

Deputy Governor of People's Bank of China, Chen Yulu (pictured), announced on Friday that Alibaba’s Ant Group has set up a working group in order to improve its business operation.

According to Chen, the company will "maintain business continuity and normal business operation, thus ensuring the quality of public financial services."

Last month, Chinese regulators said Ant has to form a separate financial holding company that would have the rules similar that banks have. That would allow banks or other government institutions to buy into the company.

Breaking the News / TF