From Quiver Quantitative:

Ant Group Co., the Chinese finance giant, has undergone a significant corporate governance restructuring, successfully removing controlling stakeholders from its flagship payment platform, Alipay. This follows Chinese regulatory pressure to address concerns about Ant’s market power and co-founder Jack Ma’s influence. The move allows for broadening of ownership and voting rights for executives and employees, easing regulatory pressures for Ant Group and reflecting the ongoing evolution of corporate governance. The restructuring is unlikely to impact the daily operations of Ant Group, indicating a smooth continuation of services despite major changes at the top. This marks a pivotal moment in the Chinese financial sector, highlighting the evolving regulatory landscape for tech and finance industries.



Read more: Major Shift at Ant Group as PBOC Confirms End of Jack Ma’s Control