Daily Tech Roundup: Ant Group Kicks Off Restructuring

Welcome to the Daily Tech Roundup — a briefing of the top technology news making headlines in China and the rest of Asia.

Ant Group moves to increase independence of its international business

Chinese fintech giant Ant Group Co. Ltd. is kicking off a restructuring that seeks to spur growth by granting greater independence to its international business. Under the plan, Ant Group’s overseas unit Ant International, its database operation OceanBase, and Ant Digital Technologies will become three independent business units, each with their own board of directors, according to an internal email from Chairman Eric Jing seen by Caixin. The three companies will adopt their own equity incentive programs that are “more compatible with start-up status” for employees. Ant Group, as a holding company, will provide governance, technology, risk control and capital support, according to the email.