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China's tries to take finance out of its fintech arm

Unit has seen management exodus and staff cuts as it seeks path back to IPO

While Nasdaq-listed has long been seen as one of China's top online retailers, the growth of its fintech arm has been far from consistent.   © AP

The abrupt suspension of the Ant Group initial public offering in November last year has reverberated across China's fintech sector and caused dozens of casualties, one of which has been the fintech arm of, a leading Chinese e-commerce company. Known back then as Jingdong Digits Technology Holding (JD Digits), the company was later forced to abandon its IPO plan in the middle of the process.

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