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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.

In a draft revision to China’s central banking law, the yuan is specified as including “physical and digital forms.” (Photo by Eric Prouzet on Unsplash)
In a draft revision to China’s central banking law, the yuan is specified as including “physical and digital forms.” (Photo by Eric Prouzet on Unsplash)China’s central bank seeks to create the legal space for its upcoming state-backed digital currency in a proposal released Friday that would also ban all other digital currencies tied to the yuan.

In this Feb. 8, 2019, file photo the logo for Citigroup appears above a trading post on the floor of the New York Stock Exchange. (AP Photo/Richard Drew, File)
In this Feb. 8, 2019, file photo the logo for Citigroup appears above a trading post on the floor of the New York Stock Exchange. (AP Photo/Richard Drew, File)Chinese online lending and wealth management firm Lufax Holding, which is backed by China's largest insurer Ping An Insurance Group, is seeking to raise up to $2.36 billion from an initial public offering in the U.S.

A Chinese woman walks past a display promoting the STAR market in Beijing on Friday, July 19, 2019. (AP Photo/Ng Han Guan)
A Chinese woman walks past a display promoting the STAR market in Beijing on Friday, July 19, 2019. (AP Photo/Ng Han Guan)Stock exchanges in Hong Kong and mainland China are considering adding shares from Shanghai’s Nasdaq-style STAR Market to a program connecting the two bourses, a move which would open the board to foreign investors.

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.

OKEx, a cryptocurrency exchange, has suspended all withdrawals due to an unnamed private key holder cooperating with an inquiry in China, a company spokesperson said 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.

A group of seven major central banks reached a milestone on Friday in identifying attributes critical to a central bank digital currency and creating somewhat of a consensus about what the experimental currency would require, but they lag behind others like China that are already barreling ahead with pilot issuances.

Lufax Holding, a Chinese online wealth management and lending platform, backed by China's largest insurer Ping An Insurance Group, is looking to go public in the U.S. , as Chinese companies continue to look to U.S. markets despite political tensions.

A Chinese financial regulator on Monday released draft rules aimed at reining in its rapidly growing online insurance market in part by requiring operating licenses for digital insurers.

Self-driving cars, autonomous machinery and other computerized items will one day have bank accounts they can access without human intervention, Huawei and SPD Bank said in a white paper Monday.

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.

Chinese telecommunications company Huawei on Friday launched a product to help financial intitutions develop remote services, amid a push to provide more digital offerings especially to customers not already reached by the traditional banking sector.

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 central bank formed a partnership on Saturday with the fintech arm of JD.com, one of China's largest e-commerce companies, for projects like the development of apps to support digital currency efforts.

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.

Industrial and Commercial Bank of China said Thursday that it has launched the first Visa virtual credit card in Hong Kong in response to the increasing popularity of cardless payment via mobile phones.