Economy

‘China wants user data from payment company Ant Group’ | Financial

The multi-billionaire and founder of web store group Alibaba is said to have resisted this for a long time. Incidentally, Ma has disappeared without a trace for a while. He hasn’t been seen in public since the end of October, after criticizing government regulations in China. Speculation about his disappearance has grown since he failed to show up for a TV series in which he was a judge. According to the American business channel CNBC, he is not missing, but Ma is keeping a low profile for the time being.

In November, the Chinese authorities unexpectedly stopped Ant Group’s IPO worth nearly $ 35 billion. It was also recently announced that regulators have started an investigation into Alibaba on suspicion of abuse of its dominant position. Authorities are also investigating dozens of Ant Group’s investments and Beijing wants the company to stop consumer credit and asset management services. According to the government, the company should only deal with payment services.

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