Ant Group, whose $37 billion initial public offering was suspended last month, has come under scrutiny from regulators in part because a significant portion of the funds for the company’s consumer loans come from small financial institutions such as city and rural commercial banks, the Wall Street Journal reported. The rapid growth of Ant’s consumer lending business likely fueled Chinese...
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Data Show TikTok Shop Relies on Indonesia, Where Business Is Threatened
TikTok just cannot escape government scrutiny. Even as the hugely popular ByteDance-owned app expands in the U.S. despite a persistent threat of a ban, the Indonesian government has decided on a new regulation to ban online shopping on social media. That would hobble TikTok’s fast-growing shopping service in Indonesia, which is the single biggest market for TikTok Shop, as the service is...
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