Alibaba issued a stern statement yesterday (18), denying a foreign media report that a central investigation team of personnel in the company this week, and will pursue the responsibility of rumor-mongers. However, Beijing Business News reported here at the same time that Alibaba’s Ant Group, whose Alipay, in addition to users who already hold bank deposit products, has downgraded bank deposit products on the financial page for users who do not hold Internet deposits. After the news broke out, it affected Alibaba’s share price in Hong Kong to drop about 1%.
Earlier “Radio Free Asia” quoted sources pointed out that the central government an investigation team personnel this week into Ali (9988) but the specific circumstances remain to be further understood.
Ali said the group’s growth is due to various government policies that encourage development and innovation and the Chinese market. The company believes that regulation is conducive to the development of platform-based enterprises can better serve the sustainable and healthy development of society, and mentioned that open-minded listening is the set of due attitude, but will not tolerate fabrication and will be held accountable for rumor-mongers.
For the Ant Group in the financial page of the face of the bank deposit products “off the shelf processing”, Ant Group responded that, according to the regulatory requirements for the Internet deposit industry, the current Ant platform on the Internet deposit products have been removed from the shelves, only for users who have purchased the products visible, holding the product users are not affected. Ant will earnestly implement the relevant regulatory norms and requirements, use technology to better support financial institutions and serve the real economy.
The management of Ant Group has not made any public appearances since the suspension of the listing until the 4th China Internet Finance Forum held on Tuesday, when the chairman of Ant Group and vice president of the China Internet Finance Association, Mr. Inoue Xian Dong, showed up and said that Ant has been doing its best to do the post-listing work under regulatory guidance for the past month or so.
He revealed that all of Ant is seriously studying the “14th Five-Year Plan” proposal and a series of central government policies on financial security and stable financial development, seriously conducting a comprehensive self-examination against the new requirements of the regulatory authorities, and actively cooperating with the supervision to further implement the regulatory requirements. The chairman of the board made the “cooperate with the regulation” statement not enough weeks, Alipay’s bank deposit products were removed from the shelves.
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