On December 26th, 2020, the PBOC, the China Banking Regulatory Commission, the China Securities Regulatory Commission, the Foreign Exchange Bureau and other financial management departments jointly met the Ant Group. The departments put forward rectification requirements for Ant Group in key business areas. Requirements include 1. enhancing transaction transparency and prohibiting unfair competition. 2. Protecting privacy and processing individual credit services within the legal framework, 3. Establishing financial holding companies, 4. improving compliance in lending/insurance/wealth management, and 5. conducting securities business in accordance with the law.