China's central bank accepts Ant's application for financial holding company

China's central bank accepts Ant's application for financial holding company

A Chinese national flag flutters outside the headquarters of the People's Bank of China, the Chinese central bank, in Beijing, April 3, 2014. REUTERS/Petar Kujundzic

China’s central bank has accepted Ant Group’s application to set up a financial holding company, three people with knowledge of the matter said, a key step in finishing a year-long revamp of Jack Ma’s fintech business and reviving its stock market debut.

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