"Ant Group Finalizes Control Shift as PBOC Confirms End of Jack Ma's Influence"
The People's Bank of China has recognized that Alipay, the payment app owned by Ant Group, no longer has a controlling party after the company underwent a significant restructuring. This change follows the announcement that Ant Group's founder, Jack Ma, has relinquished most of his voting rights and will no longer control the fintech company. Despite these governance changes, Ant Group assures that its daily business operations will remain unaffected.