China fines Ant 7.1 billion yuan
8:20 am Friday, July 07th, 2023
BEIJING (Reuters) – China’s central bank on Friday announced a fine of 7.12 billion yuan ($984 million) for Ant Group.
Reuters reported earlier on Friday that the People’s Bank of China (PBOC), which has been driving the regulatory revamp at Ant after its $37 billion IPO was scuttled in late 2020, intended to unveil the fine in coming days.
($1 = 7.2340 Chinese yuan renminbi)
(Reporting by Beijing newsroom; Editing by)
