Ant Group’s US$2.9 billion tech investment helps fintech giant reach ESG goals
- The Chinese fintech giant has been increasing its R&D outlay by 12.7 per cent annually since 2021, according to its latest sustainability report
Ant Group invested 21.2 billion yuan (US$2.9 billion) in technology last year, including artificial intelligence (AI), to drive innovation for consumers, small and micro enterprises and partners, according to the company’s latest sustainability report released on Thursday.
The fintech affiliate of Alibaba Group Holding, which owns the Post, has been increasing its research and development (R&D) outlay by 12.7 per cent annually since 2021, according to the report.
More than 87 million small and micro-sized enterprises use Ant’s technology, which has helped with their digitalisation, the company said.
“We are constantly reflecting on how to stay true to our original aspirations in this era of rapid change, continuously bringing about more small yet beautiful changes to the world,” said Eric Jing, chairman and CEO of Ant Group.
“Since our journey started from Alipay’s inception in 2004, technology-driven innovation has always been the fundamental force propelling our growth. It will play an even greater role in shaping our future.”
