Ant Will Remain an Important Firm in Hong Kong, HKMA Says
This article is for subscribers only.
Ant Group Co. will continue to play an important role on Hong Kong’s financial scene even as mainland regulators deepen their scrutiny of the financial technology giant’s business, according to a city official.
Nelson Chow, chief financial technology officer at Hong Kong Monetary Authority, said the city has no reason to question the presence of Ant, which has a license to run a virtual bank in the city as well as a so-called stored value facility, or SVF, license.