In this Friday, Oct. 23, 2020, photo, an employee sits at the Ant Group office in Hong Kong. (AP Photo/Kin Cheung)
In this Friday, Oct. 23, 2020, photo, an employee sits at the Ant Group office in Hong Kong. (AP Photo/Kin Cheung)China’s senior financial regulators said the country will take a more “uniform” approach to supervising fintechs, just days after the government blocked Ant Group’s record $34 billion public initial offering.

An employee walks past the logo of Ant Group at its office in Hong Kong, Oct. 23, 2020. (AP Photo/Kin Cheung)
An employee walks past the logo of Ant Group at its office in Hong Kong, Oct. 23, 2020. (AP Photo/Kin Cheung)Chinese fintech Ant Group is unlikely to be able to move forward with its suspended initial public offering unless it makes multiple changes to appease regulators, amid speculation that controlling shareholder Jack Ma’s comments criticizing regulation as stifling innovation led to the suspension.

The headquarters of the People’s Bank of China, in Beijing, March 10, 2019. (AP Photo/Andy Wong)
The headquarters of the People’s Bank of China, in Beijing, March 10, 2019. (AP Photo/Andy Wong)Chinese regulators issued draft microfinance business rules Monday, increasing what is required of online microlenders that provide loans to consumers and limiting the amount they can lend.

Workers in protective suits walk past a display board showing the stock market prices in the lobby of the Shanghai Stock Exchange building in Shanghai, China, Friday, Feb. 14, 2020. (AP Photo)
Workers in protective suits walk past a display board showing the stock market prices in the lobby of the Shanghai Stock Exchange building in Shanghai, China, Friday, Feb. 14, 2020. (AP Photo)The Shanghai Stock Exchange said on Tuesday that it suspended Ant Group’s initial public offering following a meeting the company’s leaders had with Chinese regulatory officials, citing what it said were significant issues, including changes in the fintech regulatory environment.

A man walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Monday, Oct. 12, 2020. (AP Photo/Vincent Yu)
A man walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Monday, Oct. 12, 2020. (AP Photo/Vincent Yu)HKEX said on Monday that it will offer options and futures tied to Ant Group, which will launch when the Chinese fintech’s shares start trading on Nov. 5 for its blockbuster initial public offering that is set to bring in more than $34 billion.

Ant Group’s office in Hong Kong. (AP Photo/Kin Cheung)
Ant Group’s office in Hong Kong. (AP Photo/Kin Cheung)Ant Group said Thursday that retail investors were around 872 times oversubscribed for the Shanghai portion of its blockbuster initial public offering, a development that comes days after the Chinese fintech set pricing for its dual listing that could bring in more than $34 billion.

Alibaba founder Jack Ma. (AP Photo/Thibault Camus, File)
Alibaba founder Jack Ma. (AP Photo/Thibault Camus, File)Chinese fintech Ant Group is seeking to raise more than $34 billion from its upcoming blockbuster initial public offering, as the company disclosed pricing terms Monday for its two listings in Hong Kong and Shanghai that would make its IPO the largest ever.

The app for Alipay, the mobile payments service operated by Ant Group, is seen on a smartphone in Beijing on Monday, July 20, 2020. Ant Group, the online payments arm of e-commerce giant Alibaba Group, announced plans Monday for an initial public stock offering that could become the world's biggest since the start of the coronavirus pandemic. (AP Photo/Ng Han Guan)
The app for Alipay, the mobile payments service operated by Ant Group, is seen on a smartphone in Beijing on Monday, July 20, 2020. Ant Group, the online payments arm of e-commerce giant Alibaba Group, announced plans Monday for an initial public stock offering that could become the world's biggest since the start of the coronavirus pandemic. (AP Photo/Ng Han Guan)Chinese fintech Ant Group received approval from the China Securities Regulatory Commission for the Shanghai portion of its blockbuster initial public offering, which is the last step in the review process and a milestone that comes days after it reportedly got a green light for the Hong Kong portion of its highly anticipated dual listing.

Alibaba founder Jack Ma. (AP Photo/Thibault Camus, File)
Alibaba founder Jack Ma. (AP Photo/Thibault Camus, File)Chinese fintech Ant Group received approval on Monday for the Hong Kong portion of its initial public offering, according to reports from Reuters and the South China Morning Post, a move that comes a month after it received regulatory consent to list in Shanghai.

The app for Alipay, the mobile payments service operated by Ant Group, is seen on a smartphone in Beijing on Monday, July 20, 2020. Ant Group, the online payments arm of e-commerce giant Alibaba Group, announced plans Monday for an initial public stock offering that could become the world's biggest since the start of the coronavirus pandemic. (AP Photo/Ng Han Guan)
The app for Alipay, the mobile payments service operated by Ant Group, is seen on a smartphone in Beijing on Monday, July 20, 2020. Ant Group, the online payments arm of e-commerce giant Alibaba Group, announced plans Monday for an initial public stock offering that could become the world's biggest since the start of the coronavirus pandemic. (AP Photo/Ng Han Guan)Chinese fintech Ant Group has raised its targeted valuation for its upcoming blockbuster initial public offering from $250 billion to at least $280 billion, Bloomberg reported on Friday.

Chinese fintech Ant Group’s upcoming massive initial public offering is seeing strong interest from retail investors, as evidenced by the CNY 60 billion in proceeds ($8.96 billion) raised by five mutual funds created to invest in the company’s shares, Reuters reported Friday.

Vanguard Group has returned $21 billion in managed assets to state funds in China, Bloomberg reported Friday, as the asset management firm continues to pare back its international business to focus on catering to individual investors.

Chinese fintech Ant Group said Monday that its online banking unit opened for business in Hong Kong, an expansion that comes in the lead-up to the company’s blockbuster initial public offering.

Ant Group on Friday unveiled a new cross-border trade finance platform powered by its Blockchain-based unit AntChain in partnership with major global banks as the Chinese fintech readies for its blockbuster initial public offering.

China’s Shanghai Stock Exchange told investors to “strictly abide” by rules for initial public offerings over concerns that buyers, sellers and underwriters may have colluded to suppress prices on its technology board.

Chinese fintech Ant Group cleared a key hurdle for its blockbuster initial public offering Friday when a committee approved its proposed listing on the Shanghai Stock Exchange’s STAR Market.

China’s central bank issued new regulations on capital requirements and corporate governance for financial holding companies in a bid to prevent systemic financial risks, citing gaps in its supervision of the nation’s financial sector.

Warburg Pincus is trying to amass a $2.5 billion fund to invest in fintech, payments and other financial services companies, as it aims to seek profitable opportunities in the sector during the pandemic, Bloomberg reported.

Vanguard will be pulling out of Hong Kong and Japan, leading to an undisclosed number of job cuts in both regions, a company spokesperson said on Wednesday.

Chinese fintech Ant Group, the parent company of the Alipay mobile app, has enjoyed solid revenue growth in recent years while its original payments segment has been eclipsed by other financial services, a filing for its upcoming blockbuster initial public offering shows.