Ant Group Creates a New Fintech Company: Chongqing Ant

In the sights of the Chinese authorities, Ant Group created a new subsidiary to meet the requirements of the government.Ant's new subsidiary is called Chongqing Ant Consumer Finance Co. It will be 50% owned by Ant Group. The rest of the shares...

Ant Group Creates a New Fintech Company: Chongqing Ant
In the sights of the Chinese authorities, Ant Group created a new subsidiary to meet the requirements of the government.Ant's new subsidiary is called Chongqing Ant Consumer Finance Co. It will be 50% owned by Ant Group. The rest of the shares are divided among 6 shareholders. Asset management company China Huarong holds 4.99% of the shares.