“Silent” for 41 days, the Ant Group speaks for the first time

Two months ago (October 2020), Ant Group, which plans to list on the Science and Technology Innovation Board, won the favor of 29 strategic investors including social security funds, with a total market value of 2.1 trillion yuan, which is expected to become the world’s largest in history. Scale IPO.

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But the dramatic reversal occurred on the eve of the market bell. On November 2, the executives of Ant Group were interviewed by four ministries including the Central Bank, China Banking Regulatory Commission, China Securities Regulatory Commission, and State Administration of Foreign Exchange.

On November 3, the Shanghai Stock Exchange announced the suspension of listing of Ant Group. That night, Ant Group also announced that it had suspended its listing on the Science and Technology Innovation Board and H-shares, and has been in a low-key state after issuing an “Investors” announcement, with no further updates on its official website.

Talking about what Ant Group is doing in the past month, Jing Xiandong said that the company is doing its best to deal with the aftermath of the suspension of listing under the guidance of supervision, and in accordance with the requirements of the supervisory authority, “look in the mirror, find deficiencies, and do physical examination “To further implement regulatory requirements.

“The recent suggestions and expectations of ants in the society include various criticisms. These are the precious wealth of ants. We listen carefully and conduct a comprehensive self-examination seriously.” Jing Xiandong said.

Jing Xiandong said that compliance with supervision is the guarantee for the stability and long-term development of financial technology. “The digital transformation of the financial industry, open banking and other innovation trends are not only China, but also a common issue facing global financial supervision. This is an exploratory process without mature experience that can be copied. A series of measures issued by the regulatory authorities have fully incorporated financial technology into supervision The framework has opened a more stable and high-quality development for our financial technology institutions. We believe that the future of financial digitalization is promising and promising.”

Regarding how to maintain the bottom line of risk in the accelerated development of financial technology, Jing Xiandong emphasized that Ant Group has set three requirements for itself: one is to deepen the understanding of the relationship between security and development, system security and individual security; the other is to continuously improve corporate governance. Ensure an effective corporate governance structure, clarify responsibilities, strengthen mechanisms, and improve systems; the third is to implement comprehensive risk management into each business, not only to ensure that each of its businesses receive safety and risk medical examinations, but also to further regulate financial cooperation , Strengthen joint prevention and control with partners, jointly prevent financial risks and maintain financial security.

Jing Xiandong also emphasized that “Ant Group will continue to play the role of financial capillaries and go all out to focus on small and micro groups” and will continue to increase investment in technological innovation, especially focusing on core areas and increasing the frontier foundation The R&D and application of sexual technologies will take greater responsibility in technological innovation.

 

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