An employee walks through the campus of the Ant Group Co. headquarters in Hangzhou, China, on Wednesday, Jan. 20, 2021.
Qilai Shen | Bloomberg via Getty Images
Months after the sudden suspension of Ant Group’s highly-anticipated dual listing, China’s financial technology companies are facing difficulties trying to go public in the mainland, analysts told CNBC.
According to EY’s Asia-Pacific IPO leader, Ringo Choi, few firms in the fintech sector have managed to list on mainland exchanges in Shanghai and Shenzhen.
“For financial technology, you can see that … some of the largest one(s), if they’re competing with the bank or insurance company, they will have a hard time,” Choi told CNBC.