Ant Group Co. is establishing a credit-scoring firm with state-owned shareholder companions, because the Chinese language financial-technology large presses forward with its restructuring.
Getting this stand-alone firm up and operating is without doubt one of the key steps in Ant’s broader transition to turn out to be a financial-holding firm, below instructions laid out by Chinese language regulators earlier this 12 months. The fintech firm, managed by Chinese language billionaire Jack Ma, relies in Hangzhou within the jap Chinese language province of Zhejiang.