Alibaba fintech affiliate bets on global markets to counter restrictions at home
SINGAPORE — Ant Group, the fintech affiliate of Chinese tech giant Alibaba Group Holding, is betting on more partnerships and investments in Southeast Asia’s fast-growing digital payments sector to help it overcome a tougher regulatory environment at home.
“We’re very focused in [the region] because we believe it’s the time,” Jia Hang, Ant Group’s general manager for Southeast Asia, told Nikkei Asia in a recent interview, citing the reopening of regional economies as the COVID-19 pandemic wanes and international travel picks up.
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