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China Accepts Ant’s Financial Holding Bid, Reuters Says

An Alipay sign outside an Ant Group office building in Shanghai.

An Alipay sign outside an Ant Group office building in Shanghai.

Photographer: Qilai Shen/Bloomberg
Updated on

China’s central bank has agreed to accept Ant Group Co.’s application to set up a financial holding company, Reuters reported, clearing a path for the fintech giant to potentially revive its listing plans following a lengthy regulatory overhaul.

The People’s Bank of China’s acceptance signals that approvals are expected and Ant is poised to emerge from a regulatory crackdown, Reuters reported, citing people familiar with the matter.