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Beijing Tells Ant Group Executives That It Could Face New Curbs

By
Wayne Ma
· · Source: Bloomberg

Beijing has warned Chinese billionaire Jack Ma and other executives at Ant Group that the Chinese digital-payments firm will face new curbs on expansion, according to Bloomberg. The warning underscores the Chinese government’s efforts to rein in its big tech companies to ensure they don’t grow too powerful. Ant, which is controlled by Ma, is about to launch an initial public offering that...

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