Bloomberg said that due to the new payment regulations introduced by the central bank, the valuation of Ant Group may be further reduced.

The latest valuation made by Bloomberg shows that the current valuation of Ant Group may be less than 700 billion yuan ($108 billion). And just earlier this month, the valuation of Ant Group has been lowered from 1.44 trillion yuan to less than 1 trillion yuan. On the eve of the IPO in November last year, Ant Group’s valuation exceeded 2 trillion yuan ($320 billion).

At present, Alipay accounts for 55.6%of China’s mobile payment market, while WeChat Pay accounts for 38.8%. The two giants occupy almost the entire market share.