BREAKINGVIEWS - Ant Financial quacks like a bank21 May 2018—reuters.com
HONG KONG (Reuters Breakingviews) - Ant Financial walks like a bank and quacks like one, too. As it lines up new investors ready to value it at some $150 billion, the Alibaba-affiliated outfit is flipping the fintech pitch and describing itself instead as techfin. Ant Financial has become part of the fabric of Chinese finance, though. Beijing would be wise to regulate accordingly.
The Hangzhou-based company, controlled by Alibaba (BABA.N) boss Jack Ma, operates the hugely popular Alipay. It...