Battered by regulators, China's Ant Group comes out in support of regulation

Ant Financial Executive Chairman Eric Jing

Ant Group Chairman Eric Jing heaped praise on China’s financial watchdogs, striking a conciliatory tone in his first public speech since they kneecapped the company’s mammoth IPO early last month.

Speaking at an internet finance industry forum on Tuesday, Jing said Ant Group Co Ltd. was working closely with regulators and doing its best to deal with the aftermath of the listing suspension, and also revealed his strong support for state regulation, which he said would guard against the risks that arise from the rapid growth of fintech companies like his own.

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