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China tech

China's Alibaba and Ant Group end staff transfers as duo split ties

Halting intercompany transfers part of wider Beijing-ordered restructuring

Alibaba and fintech affiliate Ant Group have been gradually cutting ties after Beijing ordered Ant to undergo a sweeping restructuring. (Source photos by Getty Images)

HONG KONG -- Alibaba Group Holding and its fintech affiliate Ant Group have axed staff transfers as part of a wider splitting of ties on the back of a Beijing-imposed restructuring, a person familiar with the matter told Nikkei Asia.

The pair have been decoupling over the past few months and the latest move means that the once closely linked Chinese tech companies will no longer move employees around internally, said the source, who asked not to be named as they were not authorized to speak publicly.

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