Alibaba's Fintech Affiliate Ant Group Partners With China's NBA League, Highlights Regulatory Ease

Alibaba Group Holding Limited's BABA fintech affiliate Ant Group collaborated with the NBA league in China, focusing on video content, program broadcasting, and membership.
The partnership will also cover joint marketing campaigns and digital collectables, Reuters reports.
Fans in China would have access to NBA video content on Alipay, the hugely popular payments app owned by Ant Group.
NBA China last week launched a channel on Alipay that shows user-generated content from NBA China's network of influencers and Alipay's authorized content creators.
The NBA is one of the U.S.'s most famous cultural exports to China. However, a decades-long partnership with state broadcaster CCTV was upset in October 2019 when then-Houston Rockets General Manager Daryl Morey tweeted to support widespread protests in Hong Kong.
CCTV stopped showing NBA games immediately in what became an 18-month blackout.
Basketball fans in China watched NBA games at levels close to where they were before the 2019 rift.
After its business overhaul, Ant shared a positive outlook for China's private sector, highlighting the fintech giant's role in boosting the country's economy.
Ant Chair Eric Jing said the fintech firm could play a more significant role in China's economy amid strong support from Beijing for the private sector.
Ant expressed conviction in creating more excellent value in leading development, creating jobs, and international competition.
Ant moved into the final stages of a lengthy restructuring process that has further distanced itself from parent Alibaba after tightening regulations in late 2020 after China shelved its initial public offering.
Price Action: BABA shares traded lower by 2.75% at $97.25 premarket on the last check Tuesday.

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