China clampdown on Ant Group could distract it from overseas expansion
While some feel it might affect its digital bank ambitions in Singapore and elsewhere, others say it might double down on its plans abroad
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ANT Group's latest regulatory woes in China are unlikely to derail its digital bank plans here in Singapore, but the recent clampdown on the Chinese tech giants may hurt the advancement of the digital banking ecosystem in the long run, said analysts.
With this blow, Ant Group will either double down on its expansion plans abroad to make up for the pushback on homeground, or review its digital bank ambitions in Singapore and elsewhere if the challenges prove insurmountable, they added.
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