On Dec. 26, 2020, financial regulators held a meeting with Ant Group. Under the regulators’ guidance, Ant Group will establish a rectification working group and fully implement requirements raised at the meeting to bring into line the operation and development of our financial-related businesses.
And Group will comply strictly with regulatory requirements, focusing on serving the real economy and the people as the core of our business. We will firmly uphold market-driven and law-based principles, and work to improve our corporate governance, review relevant businesses and process, and enhance awareness of and ability to comply with relevant laws and regulations. We will enlarge the scope and magnitude of opening up for win-win collaboration, review and rectify our work in consumer rights protection, and comprehensively improve our business compliance and sense of social responsibility. Ant Group will make its rectification plan and working timetable in a timely manner and seek regulators’ guidance in the process.
While fully ensuring business compliance, Ant Group will also enhance our risk management and control, and ensure continuity and quality of our services. In the process of rectification, we will adhere to the principles of not placing additional costs on consumers and partners such as financial institutions, and maintaining the consumer experience as well as risk control standards and requirements.
We appreciate financial regulators’ guidance and help. The rectification is an opportunity for Ant Group to strengthen the foundation for our business to grow with full compliance, and to continue focusing on innovating for social good and serving small businesses. We will further develop technology to continuously improve the efficiency and inclusiveness of financial services, strengthen our global competitiveness and contribute to the new development paradigm of "dual circulation" under the preconditions of serving the real economy and complying with financial regulation.
December 27, 2020