Nov 24, 2021 05:19 AM

FINANCE

Exclusive: Ant Group Reshuffles Huabei Consumer Loan Business

By Liu Ran and Denise Jia

Huabei contributed 4 billion yuan of revenue to Ant Group in 2020.

Huabei contributed 4 billion yuan of revenue to Ant Group in 2020.

Chinese fintech giant Ant Group Co. Ltd. will begin separating its Huabei (花呗) consumer brand from lending services provided by partners on its platform as it did with sister brand Jiebei (借呗), Caixin learned.

The reshuffle is part of a broader overhaul that Jack Ma-owned Ant Group has undertaken to comply with tightened regulatory requirements for fintech platforms since authorities abruptly halted the company’s $34.5 billion share sale plan a year ago.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Share this article

Open WeChat and scan the QR code

GALLERY

: Gallery: Asia New Vision Forum Kicks Off in Singapore

NEWSLETTERS

Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription

PODCAST

Caixin Deep Dive: Former Securities Regulator Yi Huiman’s Corruption Probe

00:00

00:00/00:00

MOST POPULAR

1: Analysis: Youth Unemployment Surge Exposes Cracks in China’s Economic Transition

2: Chinese Ex-Employee of U.S. Hedge Fund Two Sigma Faces Fraud Charges

3: Intel Names New China Chief Amid Business Transition and Market Shifts

4: Exclusive: Chinese Banks Guided to Help Clear SOE Arrears to Private Firms

5: Huawei Unveils Three-Year AI Chip Roadmap as Nvidia Faces Setbacks in China

SPONSORED

OR