ã€World Wide Web Reporter Li Zongze】 According to the Wall Street Journal, on January 3, the U.S. remittance company FXCM and Ant Financial Services Group, a subsidiary of China's Alibaba-backed financial technology giant, announced the termination of their merger deal due to the failure to secure U.S. regulatory approval. This development highlights the growing complexities in Sino-U.S. economic ties, especially in the realm of cross-border financial services. In a joint statement, both companies revealed that despite multiple efforts to address the concerns raised by the U.S. Committee on Foreign Investment (CFIUS), they were unable to gain the necessary approvals. Following the announcement, shares of FXCM dropped nearly 8% after market close. The failed deal marks a significant setback for Ant Financial’s global expansion strategy, which had aimed to strengthen its presence in the U.S. market through this acquisition. Ant Financial, known for operating Alipay, is controlled by Jack Ma, founder of Alibaba Group. In January 2017, Ant Financial initially proposed acquiring MoneyGram for $880 million, later raising its bid to around $1.2 billion after Euronet Worldwide submitted a competing offer of approximately $955 million. The competition highlighted the strategic importance of MoneyGram, a leading player in international money transfers. At the time of the initial bid, Douglas Feagin, President of Ant Financial, expressed optimism about entering the CFIUS review process, stating that the company had engaged in constructive dialogue with U.S. regulators. However, in Tuesday’s statement, Feagin emphasized that the company remains confident in its long-term vision and global ambitions. Both SuperMoney, based in Dallas, and Ant Financial have now shifted focus toward exploring new strategic partnerships in the remittance and digital payment sectors. Additionally, Ant Financial has reportedly paid a $30 million breakup fee to Fast Money as part of the termination agreement. This move underscores the challenges faced by foreign firms seeking to enter the U.S. financial sector amid heightened scrutiny over data security and national interests. waterproof cable,durable cables,outdoor electrical cables Dongguan City Yuanyue Electronics Co.Ltd , https://www.yyeconn.com