Ant Group starts to differentiate consumer loan biz from bank loans

Ant Group starts to differentiate consumer loan biz from bank loans

Ant Group's Hangzhou Headquarters. Source: Ant Group

China’s Ant Group said on Monday that it is making efforts to “differentiate” part of its short-term consumer loan business Jiebei, as it pursues a Beijing-led restructuring aimed at reining in some of its freewheeling businesses.

Ant, the financial affiliate of e-commerce giant Alibaba Group, saw its $37 billion IPO derailed by regulators last year and has since been working to turn itself into a financial holding firm.

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