Financial and technological company Ant Group (a subsidiary of Alibaba) Jack Ma and Chinese regulators have agreed on a restructuring plan that will turn the company into a financial holding, Bloomberg writes, according to the sources. Therefore, the PRC decided to end the war with the founder of Alibaba.

The capital requirements of the company will be similar to those imposed on banks. The plan provides for the inclusion of all Ant businesses, including blockchain and food delivery, into the holding. Before, the company suggested that regulators introduce only financial transactions into the new structure.

Such rules will almost surely slow down the rapid pace of development of the Ant Group, whereby it has become the dominant player in the high-tech industry in China, according to the newspaper. The company is still exploring the possibility of resuming its initial public offering, which was stopped by regulators. Considering the structure of the fintech giant will change a lot, the authorities can take a long time to decide on the approval of the listing.