Ant Financial-owned Tianhong seeks to diversify outside China

Ant Financial-owned Tianhong seeks to diversify outside China

Jack Ma. Photographer: Jason Alden/Bloomberg

China’s Tianhong Asset Management Co, controlled by Jack Ma’s Ant Financial Group, is stepping up the expansion of its cross-border business as regulatory curbs check the growth of its giant Yu’e Bao fund at home, a senior executive said on Tuesday.

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