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Chinese financial regulators require Ant Group, the fin-tech arm of internet giants Aliababa, to register as financial holding company, said Pan Gongsheng, the deputy governor of People's Bank of China said on Monday. The Ant Group should improve measures to isolate financial risks regulate related transactions, said Pan according to a statement published by PBOC.
Pan said that the regulator has stuck to the principles of fair supervision and tough supervision and technology cannot be the cover for unregulated activities.