China’s piggy bank, the National Social Security Fund, set to be among Ant Group’s top IPO investors

Ant Group is making room for China’s state pension fund, the National Social Security Fund (NSSF), to buy shares during the financial technology giant’s blockbuster initial public offering (IPO) in the coming weeks, according to people familiar with the matter. The group is favouring long-term investors who backed the country’s […]

What will China’s central bank digital currency mean for Alipay and WeChat Pay?

China’s e-payments ecosystem is set to step up a level of sophistication as the coronavirus pandemic and deteriorating US-China relations hasten Beijing’s plans for a digital fiat currency; potentially complicating a landscape dominated by Alipay and WeChat Pay. The central bank’s e-yuan, called Digital Currency Electronic Payment (DC/EP), would let […]