US State Department has proposed that the US government should add China’s Ant Group to a trade blacklist before the firm goes public.

Ant is an affiliate of the Alibaba Group. They are China’s dominant mobile payment company, offering loads, payments, insurance and asset management services via a mobile app.

This comes after the US has implemented restrictions on Huawei Technology. By blacklisting Ant they are aiming to send a  message to deter US investors from making public offers to Ant.

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