BEIJING (Reuters – China’s Ant Group announced Monday it would “differentiate” a portion of Jiebei’s short term consumer loan business Jiebei as part of a Beijing-led restructuring that aims to control some of its free-wheeling enterprises.

Ant, the financial subsidiary of the e-commerce titan Alibaba (NYSE) Group had its $37 Billion IPO halted by regulators last January and is now working hard to transform itself into a financial holding organization.

On the weekend, local media reported on Jiebei’s changes after Chinese regulators asked Ant in April to complete a comprehensive business overhaul. The plan included folding Jiebei credit products Huabei and Jiebei into one new consumer finance company.

The group also criticized Jiebei and Huabei for promoting loan services over payment services.

Shanghai Securities News on Sunday reported, citing borrowers that Jiebei has made modifications to the Jiebei platform in order to clearly show which loans are being provided by Chongqing Ant Consumer Finance Co and those provided by banks.

Ant Group spokeswoman said that Jiebei was working to differentiate its brand and added that consumers will have access to credit services offered by financial institutions or banks on their own pages.

Ant didn’t elaborate as to how big a portion of its business would be affected.

The regulators have ordered Ant to complete Huabei’s branding overhaul within six months of Jiebei’s start to operation as a consumer finance company, according to local media outlets the 21st Century Business Herald.

Ant’s Consumer Finance Unit was granted approval in June to open in Chongqing.

Ant stated in Ant’s IPO prospectus that Jiebei and Huabei were used in approximately 500 million cases in the twelve months ending June 30, 2020.

Ant’s virtual credit cards service Huabei started to transfer its consumers’ credit information to a Chinese central bank database in September. It was an important move by both regulators and the company as Beijing tightens control of the sector.