Ant Group's IPO fiasco signals stricter fintech regulation in China: S&P

The regulatorsࢀ™ proposed new draft rules may curb rapid growth of online micro-lenders. The massive growth enjoyed by digital micro-lending and financial technology (fintech) companies in China will likely come to a halt as local regulators move to pass a new set of rules that tightens regulations in the digital lending sector. In a report, S&P Global Ratings said it expects the local government to continue updating its regulations and guidelines to manage the growth and risks brought by the fast evolving fintech industry. Recently, the government abruptly halted Ant Groupࢀ™s $35b initial public offering (IPO) after regulators allegedly discovered…