<중앙은행, Ant Group 금융지주사 설립 신청 수용 예정>

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[Asia Economy Reporter Kim Hyung-min] Foreign media reported on the 17th that the People's Bank of China, China's central bank, has decided to accept the application for establishing a financial holding company by Ant Group, the world's largest fintech company founded by Alibaba's Jack Ma.

Accordingly, Ant Group's move toward an initial public offering (IPO) is expected to gain momentum. A financial holding company license is essential for Ant Group's listing efforts.

Ant Group is the world's largest fintech company providing Alipay, the electronic payment service of Alibaba Group. This company, under the absolute control of Jack Ma, was scheduled to simultaneously list in Shanghai and Hong Kong in November 2020, aiming to raise $35 billion.

However, the IPO was abruptly canceled shortly after Jack Ma openly criticized government regulations. Since then, Ant Group and the entire Alibaba Group have experienced ups and downs as key targets of the Chinese authorities' 'high-intensity reforms.'

Recently, amid signs that China is easing its 'big tech crackdown' policy amid an economic downturn crisis, there is growing interest in whether Ant Group will resume its IPO efforts.

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