SHANGHAI -- Chinese regulators gave their approval Thursday to Jack Ma's Ant Group to start operating a consumer finance unit after months of pressure to adopt more comprehensive oversight and obtain necessary licenses.
China tech
Ant Group receives Chinese approval for consumer finance spinoff
License comes after months of pressure against Jack Ma's fintech company
Ant Group's headquarters in Hangzhou, China: The company has faced increased scrutiny from Chinese regulators since last year. © Reuters
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