© Reuters. FILE PHOTO: A man walks past an Ant Group logo at the World Artificial Intelligence Conference (WAIC) in Shanghai, China July 8, 2021. REUTERS/Yilei Sun
BEIJING (Reuters) – China’s central bank said on Friday it had accepted the application to set up a personal credit-scoring joint venture backed by Alibaba (NYSE:)’s fintech affiliate Ant Group and other firms. The new venture, named as Qiantang Credit Rating, will become the third personal credit scoring firm in China if officially approved by regulators.
Ant and the state-backed Zhejiang Tourism Investment Group Co Ltd would each own 35% of the venture, according a statement by the People’s Bank of China (PBOC). Other state-backed partners, including Hangzhou Finance and Investment Group and Zhejiang Electronic Port, would hold 6.5% each. ($1 = 6.3901 renminbi)
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.