SHANGHAI, 7 July 2022 – Officials of Chinese financial technology (fintech) giant Ant Group Co. Ltd. visited the Consulate General on 5 July to outline its business ventures and philanthropic activities in the Philippines, and explore opportunities for collaboration.

A subsidiary of the Alibaba Group, the Ant Group develops and owns online payment platforms, most notably Alipay, currently the world’s largest such service. The company also actively supports the digital transformation of the service industry, with focus on supporting access by consumers and MSMEs to finance, technology and other services.

Mr. Jason PAU and Mr. ZHĀNG Yīnfān, Senior Director and Director, respectively, for International Public Policy and Government Affairs, were received by Consul General Josel F. Ignacio and PTIC-Shanghai head Vice Consul Mario C. Tani.

Ant reported on its four-year-old “10x1000 Tech for Inclusion” program with the International Finance Corporation. The program, which trains 1,000 emerging market digital technology leaders and talents yearly, counts 126 Filipino among its alumni to date.

Ant provided an overview of its support for Philippine startups. The company has a stake in fintech company Mynt, owner of GCash and the country’s first unicorn. It also has a partnership with FinTech Alliance.ph to advance digital skills, commerce and services.

CG Ignacio thanked Ant for its “well placed confidence in the Philippines” with its fast expanding e-commerce landscape, deep pool of talent, and supportive government policies. E-commerce is targeted to contribute up to 11.4% of GDP by 2022 and 26% by 2030.

VC Tani briefed Ant, in turn, on the startup and innovation ecosystem in the Philippines. He assured Ant of support in linking up with PH e-commerce policymakers in PH. Both sides committed to continued consultations and exchanges. END