Reports. In-depth reports on the risk factors and threat implications of economic and financial statecraft.

In a new report released on September 7, RWR Advisory Group addresses the risk profile of Ant Technology Group, as it prepares for an initial public offering (IPO) in Hong Kong and Shanghai that is expected to be the largest in history (managed by a team of financial institutions, four of which are American).

Ant Technology Group is a partially owned (33%) subsidiary of Chinese e‑commerce giant Alibaba and provides financial technology (fintech) products and services to its consumers in China and around the world.

As highlighted in this report, Ant Technology Group raises a number of risk concerns for prospective investors that go beyond regular business considerations, notably those associated with national security and human rights. These include a range of issues associated with operating a technology company that implicates troves of personal user data under the jurisdiction and oversight of the Chinese government and its ruling Chinese Communist Part (CCP).