Billionaire Jack Ma’s Ant Group has been given the go-ahead on its plan to raise 10.5 billion yuan (roughly $1.5 billion) for its consumer unit, Bloomberg reports.
Why it matters: The move signals the Chinese government is easing on its tech crackdown.
It brings Ant Group a step closer to reviving its initial public offering after the government torpedoed the company’s IPO bid in 2020
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