Ant Group to launch financial holding firm

Ant Group, which offered mobile payment and consumer credit services, will apply to set up a financial holding company to ensure its financial-related businesses are fully regulated following an antitrust probe. The company handling the transactions of Alibaba Group's e-commerce platforms shall return its payment business to the origin of "serving consumers and small and micro businesses", according to a notice by Alibaba, which owns a 33 percent stake in Ant.

Toy exports touch $33.5b in 2020

China's toy exports continued to grow last year despite COVID-19.China exported $33.5 billion worth of toys in 2020, up 7.5 percent on a yearly basis, according to the China Toy and Juvenile Products Association. Toy exports have continued to rise this year, with export hitting $5.02 billion in the first two months, up 96.8 percent year-on-year.

China Daily - Xinhua