China expected to lower fine on Ant Group to about $700m

China expected to lower fine on Ant Group to about $700m

FILE PHOTO: A sign of Ant Group is seen during the World Internet Conference in Wuzhen, Zhejiang province, China, Nov. 23, 2020. REUTERS/Aly Song/File Photo

Chinese regulators are expected to fine Ant Group about a quarter less than the more than $1 billion initially planned and downgrade their charges against it, sources said, as they seek to end a years-long crackdown on marquee technology firms.