Ant Group’s chairman Eric Jing said that the Chinese fintech giant has been «conducting a body checkup» and aligns business with Beijing’s 14th five-year plan.
«Recently, we at Ant Group have spared no effort in studying the 14th Five-Year Plan, and the government’s policy insights into financial security and financial stability,» according to Jing (translated from Mandarin) in a report by «SCMP», which is owned by affiliate firm Alibaba Group.
This follows the fintech’s IPO pullout and subsequent regulatory tightening including the most recent fines by the mainland’s top antitrust watchdog over failure to seek approval over acquisition deals made several years ago.
Jing said the post-pullout review was akin to a«conducting a body check-up».
Market Focus Unchanged
According to Jing, Ant Group will continue to invest in cutting-edge fundamental technologies like databases, blockchain, smart risk control and smart security.
It will also retain focus on serving small and micro enterprises and business owners alongside digital financial services to the agricultural sector.
Not Profits Alone
But in addition to growth and closer alignment to national goals, Jing also noted the firm’s «goal is to make financial services not only more accessible but also at lower costs for our clients».
«Ant will definitely continue to improve itself, enhance its sense of the big picture and its responsibilities, consciously integrate corporate development into the new development landscape and new regulatory environment, and respond to the requirements and expectations of the country and society with actions,» he added.
