Ant Financial quacks like a bank

Reuters
By Robyn Mak
(The author is a Reuters Breakingviews columnist.)
HONG KONG, May 21 (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.
In that sense, Ant resembles e-comme…

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