China News Service, Beijing, November 5 (Reporter Xia Bin) The spokesperson of the China Securities Regulatory Commission told reporters on the evening of the 4th that Ant Group's suspension of listing on the Sci-Tech Innovation Board was a decision made by the Shanghai Stock Exchange in accordance with laws and regulations.
The regulatory interviews of the financial regulatory authorities and the recent changes in the financial technology regulatory environment may have a significant impact on the business structure and profit model of Ant Group, which are major events that occurred before listing.
On November 3, the Shanghai Stock Exchange issued a decision to suspend the listing of Ant Group on the Science and Technology Innovation Board of the Shanghai Stock Exchange.
On the same day, Ant Group announced the suspension of listing on the Hong Kong Stock Exchange.
The aforementioned spokesperson said that in line with the principles of protecting the legitimate rights and interests of investors, fully and transparently and accurately disclosing information, and earnestly safeguarding market fairness and justice, the Shanghai Stock Exchange has made a decision to suspend the listing of Ant Group in accordance with the relevant regulations of the Sci-tech Innovation Board Registration Management Measures.
The spokesperson said that the China Securities Regulatory Commission supports the decisions made by the Shanghai Stock Exchange in accordance with laws and regulations. At the same time, it maintains communication and coordination with the Hong Kong Securities Regulatory Commission and securities regulatory agencies in some major overseas markets to jointly and steadily complete follow-up work.
"Avoiding Ant Group from rushing to go public in the event of major changes in the regulatory policy environment is a responsible approach to investors and the market, and embodies the spirit of reverence for the market and the rule of law. I believe this decision will benefit the long-term development of the capital market. It is helpful to strengthen the trust and confidence of domestic and foreign investors." The spokesperson said.
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