Chongqing Banking and Insurance Regulatory Bureau approved Chongqing Ant Consumer Finance Corporation's plan to increase its capital from 8 billion yuan to 18.5 billion yuan, and Ant Group can raise 10.5 billion yuan for its consumer department.

With the new investment, Ant Group will hold 50 per cent of the shares; Hangzhou Golden Investment Digital Technology Group Co., Ltd., a state-owned enterprise in Hangzhou, has a 10 per cent stake. Nanyang Commercial Bank, Zhejiang Sunny Optical, Chuanhua Zhaopin and Jiangsu Yuyue Medical hold 6.491%, 6%, 5.01% and 4.99%, respectively.

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