Chinese Bad-Debt Manager Cinda Backs Out of Ant Unit's Capital Raise

State-owned China Cinda Asset Management is pulling out of a planned large investment in the consumer-finance arm of Jack Ma’s Ant Group, a setback to the fintech giant’s lending-business revamp.

Chinese Bad-Debt Manager Cinda Backs Out of Ant Unit's Capital Raise
State-owned China Cinda Asset Management is pulling out of a planned large investment in the consumer-finance arm of Jack Ma’s Ant Group, a setback to the fintech giant’s lending-business revamp.