The central bank is preparing the penalty, which could land in the second quarter of next year after a yearslong crackdown on the private sectors that included the halt of Ant’s massive initial public offering in 2020, that is now showing signs of winding down. President Xi Jinping recently issued market friendly policies by relaxing inbound travel restrictions and rolling out a package of measures to support the property market.
“It’s not a big fine, it’s more a slap on the wrist,” said Kerry Goh, chief investment officer at Kamet Capital Partners Pte. “This removes the overhang of regulatory risk and it’s just a further sign that we are closer to the end of the regulatory cycle.”