PBoC 'unhappy' with data Ant Group shared - report

Tuesday, 02. March 2021 07:48

People's Bank of China (PBoC) sees the amount of data provided by Alibaba Group Holding Limited's affiliate Ant Group Co. Ltd, as insufficient, the Financial Times reported on Tuesday, citing people with knowledge on the matter.

The main issues that the Chinese regulators have, apart from the data volume, are the lack of details disclosed in the reports, and the frequency of delivery, the outlet's sources added. However, Ant did agree to share data on its consumer-lending products Huabei and Jiebei in a "step-by-step manner," the report stated.

The Chinese authorities have asked Ant to disclose more of its data as it allegedly provided the fintech giant with an unfair competitive advantage. PBoC Governor Yi Gang underlined that the company can go on with its initial public offering (IPO) after it resolves its "issues."

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Breaking the News / BU