Ant Group applies to China’s central bank to set up personal-credit scoring joint venture with state-backed partners

China’s central bank said it has received an application for a personal-credit scoring joint venture between Ant Group, state-backed Zhejiang Tourism Investment Group and four other investors, allowing the fintech giant to move ahead with its business overhaul.Qiantang Credit, which will have 1 billion yuan (US$157 million) in registered capital, will be 35 per cent each owned by a unit of Ant Group and Zhejiang Tourism, according to a notice published by the People’s Bank of China (PBOC) on…


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