Days after news broke that Alibaba is being investigated for alleged “monopolistic conduct”, China’s regulators have ordered Jack Ma-founded Alibaba affiliate Ant Group to downsize its business. According to Pan Gongsheng, deputy governor of China’s central bank, some of Ant Groups’s wide range of services—including savings accounts, credit services, and wealth management—are “illegal”. At the … Continue reading China wants Jack Ma’s Ant Group to “return to its origins” as a digital payment provider