Four Chinese regulatory bodies, led by the People’s Bank of China, held a meeting with the top executives of Ant Group, days before shares of the fintech company are due to make their trading debut in Shanghai and Hong Kong in the world’s biggest initial public offering, reported the South China Morning Post.
The regulators met with Ant Group’s co-founder Jack Ma, executive chairman Eric Jing and chief executive Simon Hu, according to a statement by the securities regulator, said the SCMP.
“On November 2, 2020, Ma as controlling shareholder of Ant Group and Ant’s management team met with Chinese financial regulators,” according to a statement from the Hangzhou-based fintech company.
“Views regarding the health and stability of the financial sector were exchanged. Ant Group is committed to implementing the meeting opinions in depth and continuing our course based on the principles of: stable innovation; embrace of regulation; service to the real economy; and win-win cooperation,” said the statement. “We will continue to improve our capabilities to provide inclusive services and promote economic development to improve the lives of ordinary citizens.”