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Jack Ma’s Ant Group Gets Regulatory Nod

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https://www.celebritytokyoescorts.com/ Chinese billionaire Tokyo escort  Group won regulatory approval to boost the registered capital of its consumer finance unit by 10.5 billion yuan ($1.5 billion), a move suggesting progress in the fintech giant’s efforts to restructure its operations to satisfy authorities’ demands. Chongqing Ant Consumer Finance, which was established in 2021 to host Ant’s consumer-lending businesses, such as  Huabei  and  Jiebei , got the greenlight to increase its capital to about $2.7 billion on December 29, according to a post published by the Chongqing unit of the China Banking and Insurance Regulatory Commission. This will allow Ant to handle more consumer-oriented loans and it eliminates another regulatory obstacle en route to completing its initial public offering that was abruptly shelved in 2020. Ant was told at the time that it had to revamp its various business lines, including boosting its capital adequacy ratio to keep risks in check. Now, under the