China : Ant Financial Gets Approval to Open Equity Crowdfunding Company

By  Qu Yunxu,

Beijing) – Ant Financial Services Group has received a business license from Shanghai authorities to open an equity crowdfunding company –the latest indication that regulators are close to giving their approval to the industry.

An executive from Ant Financial said that the license does not mean the company closely linked with e-commerce giant Alibaba Group Holding Ltd. is near launching an equity crowdfunding business because it is waiting for regulations to publish rules on the industry.


“The CSRC has been working on a crowdfunding regulation and we can only say for sure if we can launch a business after we see it,” the person said.

A source close to the China Securities Regulatory Commission said that Ant Financial was likely to be among the first group of companies in the country to get approval.

Crowdfunding companies allow investors to buy shares of usually small private startups with small amounts of capital.

Ant Financial has been working on plan to launch an equity crowdfunding service on the shopping website Taobao, which is owned by Alibaba Group. Ping An Insurance (Group) Co. launched a unit to run an equity crowdfunding business in April, following similar moves by Inc., another Chinese e-commerce giant listed on the Nasdaq.

Equity crowdfunding has operated in a gray area in China since 2013. Regulators have been vague about their attitude toward the industry. Raising capital from strangers and rewarding them with cash could be seen as illegal fundraising, a crime punishable by death in the country.

However, Premier Li Keqiang told a State Council meeting in November that the government planned to allow equity crowdfunding pilots to address the difficulty small businesses have raising funds.

CSRC spokesman Zhang Xiaojun said on May 30 that the regulator was wasting no time drafting rules. A few days later he said the commission had basic rules laid out.

Several sources close to the CSRC said it had planned to unveil the rules in June, but then put if off until in July. The reason for the delay is unclear.

Ant Financial filed the paperwork to register its crowdfunding company with the Shanghai Administration for Industry & Commerce in May. Registration records seen by Caixin show the firm, Ant Dake (Shanghai) Equity Crowd-funding Service Limited Co., has registered capital of 100 million yuan.

(Rewritten by Li Rongde)


Tags: , , ,


This RSS feed URL is deprecated, please update. New URLs can be found in the footers at [...]

ForbesHow This Millennial Built A 7-Figure Business Using Equity CrowdfundingForbesWhen he asked them to help fund his company's crowdfunding campaign, they delivered—exceeding his initial goal fourfold and ranking it one of the fastest and most successfully funded companies on R [...]

WJLAHomeFundMe: Crowdfunding for a down payment | WJLAWJLABOISE, Idaho (KBOI) - You've likely heard of GoFundMe, the crowdfunding website, but have you heard of HomeFundMe?It's a website aimed at raising money for the down payment on a home.There is no repayment! This is a t [...]

Final '68, crowdfunding campaign ends in just one weekPlanetmountainThe crowdfunding campaign for Final '68, the project that aims to document the exploratory phase of the Pietra del Finale between the years 1968 and 1975, will come to an end in seven days time. There are ju [...]

Digital News AsiaNewly licensed Singapore crowdfunding player kickstarts platformDigital News AsiaSINGAPORE start-up, FundTier, launched its crowdfunding platform officially after obtaining the Capital Market Services (CMS) licence in December 2017. Founded by five former bankers, Fun [...]

Crowdfunding site Beam provides job training for homeless 'in a dignified way'CTV NewsHe is among the first to benefit from a high-tech project to use the internet and crowdfunding to help the homeless. The founder is an entrepreneur by the name of Alex Stephany who created [...]

Oval Money surpasses £500000 crowdfunding target in 72 hoursFinextraOval Money's latest fundraising campaign was conducted on crowdfunding platform Crowdcube. The £500,000 target represented nine percent of the company's equity, but the overfunding is increasing the equity t [...]

Brewbound.comFull Circle Brewing Raises $800000 Via Equity Crowd FundingBrewbound.comFRESNO, Calif. – Full Circle Brewing Co., Fresno-based craft brewery, announces their progress of securing $800,000 of capital. They are more than three-fourths to their goal which is projected to inc [...]

Entrepreneur3 Crowdfunding Tips Every Company Forgets From a Brand That Raised $800000 and Got AcquiredEntrepreneurCrowdfunding takes a lot of planning, whether you're gearing up for a launch, a ship date or thinking about the next source of funding you'll pursue. But it [...]

Entrepreneur12 Key Strategies to a Successful Crowdfunding CampaignEntrepreneurI've Raised Close to $2 Million in Crowdfunding Campaigns -- Here Are My Secrets · Next Article. 12 Key Strategies to a Successful Crowdfunding Campaign. Image credit: Shutterstock · Aj Agrawal • Contr [...]

CFB Finance


  • Crowdfunding
  • Crowdfund
  • Peer to Peer Lending
  • FinTech
  • Reg A+
  • Reg CF
  • Crowdfunding USA

Press Release

CrowdFund Beat Media

2018 Fintech World Conference & Workshop, Announcement:Game Changer” Fintech World Media, PR & Marketing Group Proudly Presents:

Live Crowdfunding .tv

What's Next Step in Regulation A+ JOBS ACTS Title IIII :L Interview : Steve Cinelli with Brian Korn Securities and Crowdfunding/Peer-to-Peer Lending Lawyer, Watch more video library | Conference | Interview | Campaign Showcase | Research | Education |