China’s decision to scrap Ant Group’s IPO made headlines around the world. But why did the Party act so late and why is it so concerned about Ant? Euromoney looks at the reasons behind the decision and asks what the future holds for a firm hemmed in by a raft of new rules on everything from online lending to anti-trust and data privacy.
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Elliot Wilson is Greater China Editor and Private Banking and Wealth Management Editor. He joined the magazine in 2020 having been a regular contributor focusing on China and the Indian subcontinent, Russia and Eastern Europe/the CIS. He is based in Hong Kong.