Ant Group

Preparations for a nationwide rollout of the digital yuan are underway.

Tencent’s WeBank also joins the six state-owned banks in the pilot.

The regulator intends to bring down the leverage ratio of Chinese fintech companies.

Ant Group’s valuation is estimated to fall by more than half after the business overhaul.

Alibaba, Tencent, Baidu, and Meituan have all used variable interest entities to dodge rules on capital activity.

Major platforms, such as Alipay and JD Finance, removed deposit products last month.

Proposed reshuffle includes under-fire lending and insurance platforms.

President Trump signed another executive order banning eight Chinese apps, including Tencent QQ, WeChat Pay, and Alipay