The Latest Breaking News from Ant Group

HONG KONG: Chinese financial technology giant Ant Group is ramping up cashless travel in South Korea through its Alipay+ programme, which supports a major collaboration between trusted mobile payment services providers across Asia.

Beijing (AFP) - Chinese e-commerce giant Alibaba reported flat revenue growth on Thursday for the first time ever, as the country grappled with an economic slowdown and Covid-19 resurgences kept consumers jittery.

Hong Kong’s benchmark Hang Seng Index was in the red on Friday, losing over 0.5% in opening trade, despite a continuing rally on Wall Street. Alibaba shares fell close to 4% following reports Chinese billionaire Jack Ma is planning to cede control of Ant Group.

China’s digital economy has advanced rapidly over the past two decades, with services, communications and commerce moving online.

A high-level Chinese government meeting led by President Xi Jinping has called for stronger oversight and better security in financial tech, state media reported, with the sector hit hard by a regulatory crackdown. The government action has pummeled some of China's biggest tech firms, wiping out hundreds of billions of…

Beijing (AFP) - A high-level Chinese government meeting led by President Xi Jinping has called for stronger oversight and better security in financial tech, state media reported, with the sector hit hard by a regulatory crackdown.

Key takeaways: •      Tencent reduced its stake in ZhongAn to about 8% from 10%, less than six months after Alibaba-affiliated Ant Group also cut its stake in the online insurer •      ZhongAn’s net profit more than doubled last year, as reliance on its parents for business has decreased

Alibaba Group Holding Ltd - ADR (NYSE: BABA) shares are trading higher by 10.30% to $111.90 following reports suggesting China's central bank has accepted Ant Group's financial holding company application.

The Dow Jones rose, shrugging off Fed chief Jerome Powell's inflation comments. Alibaba led gains in U.S.-listed Chinese stocks.

HONG KONG: China’s central bank has accepted an application by Ant Group to set up a financial holding company, a key step toward finishing a year-long overhaul of Alibaba founder Jack Ma’s fintech business and reviving its stock market debut.

Shares of e-commerce giant Alibaba Group Holding (BABA) gained momentum earlier this month after the government gave the green light to revive its subsidiary Ant Group’s dual listing. However, given its declining profit margins, is BABA an ideal investment now? Read more to find out.