Caixin
Nov 23, 2018 07:44 PM
FINANCE

In Depth: Alipay and WeChat May Have Grown Too Big to Fail

Ant Financial Services Group’s headquarters is seen in Hangzhou, Zhejiang province, on July 13. Photo: VCG
Ant Financial Services Group’s headquarters is seen in Hangzhou, Zhejiang province, on July 13. Photo: VCG

Alipay and WeChat Pay, China’s two online-payment behemoths, have more users than any of the country’s biggest banks.

That’s been great for business, but it has also now put them on the radar of financial regulators looking to create a list of the institutions so big and so connected that they could pose a threat to the country’s financial system, Caixin has learned from multiple sources close to the authorities.

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