Ant Group and at least a dozen banks are scaling back their cooperation in consumer loans as Chinese regulators continue to tighten their control of online lending, Bloomberg reported. Some banks are planning to reduce their joint consumer loans with Ant, while at least one bank has already stopped working with Ant altogether, according to Bloomberg. Credit and loan services, which accounted...
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What Sequoia Should Have Said
I remember my jaw dropping last year when The Information’s Juro Osawa reported that Sequoia China was in talks to raise more than $8 billion in new funding from U.S. investors and others.I was baffled. I just couldn’t imagine that Sequoia, which had picked a slew of winners in the U.S. and China ranging from Google to Meituan, was going to continue to draw such inflows from the U.S. to its...
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