China Seeks to Break Up Alipay, Separate Loan Business: FT

The transcript discusses Beijing's intention to break up Alipay, a super app owned by Ant Group, to create a separate app for its profitable loans business. This move is part of a broader regulatory effort, which has already seen Ant's lending backend separated. The discussion highlights the surprise that Alipay wasn't broken up earlier, especially after the collapse of Ant's IPO. The focus is on Ant's micro lending units, Khwab and Diabe, which pose risks due to their reliance on state banks for funding. The potential separation of Alipay's most profitable parts, Hobbs and Jeb, could significantly impact Ant's valuation.

What was the outcome of the IPO collapse for Ant Group?

What percentage of loans issued by Ant Group are funded by Alibaba?