In September 2016, KFC sold this aspect of its business in China, for a whopping $406 million, to Yum China, which is invested in by Ant Financial as well as Spring Flower Capital. In addition to KFC, Yum China's portfolio also includes well-known restaurant brands such as Pizza Hut, Little Sheep, Oriental White and Taco Bell.
Expanded Information:
Ant Gold:
Ant Technology Group Corporation (Ant Group) started out with the Alipay was founded in 2004.In March 2013 Alipay's parent company announced that it would prepare for the establishment of a microfinance group as its main body, and microfinance became the predecessor of Ant Gold Service.In July 2020 Ant Gold Service officially changed its name to Ant Group .
The Ant Group, with the vision of "making credit equal to wealth", is committed to building an open ecosystem and helping financial institutions and partners accelerate their progress towards "Internet+" through the "Internet Enabler Program". +Through the "Internet Enabler Program", we help financial institutions and partners accelerate their progress towards "Internet Plus" and provide inclusive financial services to small and micro enterprises and individual consumers. Relying on mobile Internet, big data and cloud computing as the basis, it is an important practice of financial inclusion for China. It has sub-business segments such as Alipay, Balance, Zhaocaibao, Ant Jubao, Netcommerce Bank, Ant Chanting, and Sesame Credit.
On November 3, 2020, the Shanghai Stock Exchange issued a decision to suspend the listing of Ant Group on the Science and Technology Board of the SSE. On the same day, Ant Group announced that it would suspend its listing on the Hong Kong Stock Exchange; on November 6, Ant Group started the refund process; on December 26, Ant Group set up a rectification working group to fully implement the requirements of the interview;
On January 15, 2021, Chen Yulu, vice governor of the central bank, said that the financial management department was maintaining close regulatory communication with Ant Group.On March 1, according to a Reuters report, Ant Group is in talks with other shareholders to raise capital to seek an additional 30 billion yuan for its consumer finance business to meet regulatory needs, Reuters reported on March 1.
On April 12, 2021, the People's Bank of China (PBOC), the China Banking and Insurance Regulatory Commission (CBIRC), the China Securities Regulatory Commission (CSRC), the Foreign Exchange Bureau (FXB), and other financial administrations again jointly interviewed Ant Group. Pan Gongsheng, vice governor of the People's Bank of China, answered reporters' questions on behalf of the four departments about the interview; on October 10, the registered capital of Ant Technology Group Co. increased to 35 billion yuan.