Ant Group fined €904m by Chinese regulators

The company, founded by Jack Ma, is an affiliate of e-commerce giant Alibaba, which Mr Ma also founded.

Chinese authorities claimed Ant Group violated laws related to corporate governance and consumer rights (Kin Cheung/AP)

Chinese regulators said they have fined Ant Group 7.123 billion yuan (€904 million), claiming the financial technology provider violated laws related to corporate governance and consumer rights.

The People’s Bank of China imposed the fine on Friday.