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Ant Group, the fintech firm affiliated with e-commerce big Alibaba Group Holding, mentioned it would shut its Xianghubao mutual assist platform subsequent month, amid Beijing’s ongoing regulatory crackdown on monetary companies within the know-how sector.Xianghubao – which suggests “shield one another” in Chinese language – will stop on January 28 subsequent 12 months, in keeping with an Ant Group discover despatched to customers on Tuesday.The closure of the mutual assist service is the most recent signal of the shake-out in China’s fintech trade,…
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