Ant Plans Credit Unit Overhaul

Ant Group faces significant regulatory challenges, needing licenses for nationwide operations. The company plans to consolidate its assets into a new financial entity to comply with regulations. Additionally, the government has advised Ant to restructure its priorities. Jack Ma, the company's founder, has not been detained but remains out of public view since the IPO halt, with his fortune significantly reduced.

What is the primary regulatory challenge Ant Group is facing according to the first section?

• Obtaining a nationwide license for its lending business

• Expanding its operations to Europe

• Increasing its market share in Asia

• Reducing its workforce

What is the new entity Ant Group plans to shift its operations into?

• A micro-lending entity

• A consumer finance entity

• A digital currency platform

• An international banking unit

What additional regulatory challenge is Ant Group facing as mentioned in the second section?

• Mandatory employee training programs

• Increased taxes on profits

• New regulations on credit scoring

• Restrictions on international travel

What has the government advised Jack Ma to do?

• Leave the country immediately

• Stay in the country

• Retire from public life

• Sell his shares in Ant Group

How much have Jack Ma's fortunes declined by the end of October?

• 20 billion dollars

• 5 billion dollars

• 11 billion dollars

• 15 billion dollars