Six sources who directly understand the incident revealed that the Chinese government fined more than 1 billion US dollars ($ 1.379 billion) at the Ant Group to pave the way for the end of the supervision and rectification.
According to Reuters, the Ant Group's $ 37 billion listing plan was rejected at the last moment, and the People's Bank of China (PBOC) has been promoting the reorganization of Ant Financial.fine.In the past few months, the central bank has been fined Ant Financial for informal communication.The fine may be concentrated in the violations of Ant Financial's suspected "capital disorder expansion", as well as the corresponding financial risks caused by its former business.
Sources said that the People's Bank of China plans to discuss more with other regulatory agencies on the reorganization of Ant Financial in the later this year and announce a fine in the second quarter of next year.However, before China appointed some senior officials of the State Council and other government agencies next year, the punishment for Ant Financial was unlikely to be determined.
The amount of $ 1 billion is second only to Didi Chuxing's fines of US $ 1.2 billion in July this year, and it is the second largest regulatory penalty for Internet companies.Analysis believes that fines may help get a financial holding company license for Ant Financial and finally restore its IPO plan.
Sources said that the central branch of the People's Bank of China in Hangzhou received an application for the establishment of a financial holding company in Ant Group in June.However, before Ant Financial completed the transformation, the People's Bank of China was unlikely to formally disclose the application.
