Equities

Reuters reveals Ant Financial shifts focus from finance to tech services

Reuters reveals Ant Financial shifts focus from finance to tech services

Reuters reported exclusively that Ant Financial Services Group, the dominant Chinese fintech company, is shifting its main focus to technology services and away from payments and consumer finance as Beijing’s crackdown on financial risk deepens. The company, which is controlled by Chinese billionaire Jack Ma, plans to accelerate the shift within the next few years, sources told Reuters.