Ant Group is an affiliate of Alibaba in which the e-commerce giant owns 33%. But the fintech giant has been looking to distance itself since its halted IPO.
Several Ant Group executives have stepped down as partners of affiliate company Alibaba.
Ant Group is an affiliate of Alibaba in which the e-commerce giant owns 33%. Ant Group runs the Alipay mobile payments wallet in China. But it has trying to separate itself further from Alibaba since its initial public offering, which would have been the world's biggest, was suspended in November 2020 after regulators flagged concerns.as the two Chinese technology giants attempt to distance themselves from each other amid regulatory scrutiny from Beijing.
Seven executives including CEO and Chairman Eric Jing and Chief Technology Officer Xingjun Ni were no longer part of the Alibaba Partnership as of Mar. 31, according to the e-commerce giant's annual report published Tuesday.Stay informed about local news and weather. Get the NBC Chicago app for
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