Jack Ma’s Ant will partner with state-owned companies from Zhejiang province to establish Qiantang Credit Reporting
Ant Group Co. is setting up a credit-scoring company with state-owned shareholder partners, as the Chinese financial-technology giant presses ahead with its restructuring.
Getting this stand-alone company up and running is one of the key steps in Ant’s broader transition to become a financial-holding company, under directions laid out by Chinese regulators earlier this year. The fintech company, controlled by Chinese billionaire Jack Ma, is based in Hangzhou in the eastern Chinese province of Zhejiang.
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