China’s Ant Financial, US-based Vanguard set up JV in Shanghai

The login page for Ant Financial Services Group's Alipay application, an affiliate of Alibaba Group Holding Ltd., is displayed on an Apple Inc. iPhone in an arranged photograph taken in Hong Kong, China, on Wednesday, July 26, 2017. Photographer: Anthony Kwan/Bloomberg

Chinese fintech company Ant Financial Services has formed a joint venture with a Shanghai unit of U.S.-based asset management firm The Vanguard Group, government records showed.

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