JD.Com Inc (NASDAQ:JD) shares are trading higher by 2.79% to $35.03 during Friday's session. Shares of large-cap US-listed Chinese stocks are trading higher. Chinese stocks may be higher amid strength in Alibaba Group, which gained after China ended its regulatory overhaul on fintech affiliate Ant Group by imposing a penalty of 7.12 billion yuan.

What Happened?

According to Reuters, Ant Group has paid a fine for breaching consumer protection and corporate governance laws. This significant penalty is expected to facilitate the acquisition of a financial holding company license, support growth initiatives and revive its listing plans.

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What Else?

Ant Group, formerly known as Ant Financial Services Group, is a financial technology company based in China. It was established in 2014 as an affiliate of the Alibaba Group, initially serving as the financial arm of the e-commerce giant.

Ant Group provides a wide range of financial services. Its flagship product, Alipay, is one of the world's largest mobile payment platforms.

According to data from Benzinga Pro, JD.Com has a 52-week high of $68.29 and a 52-week low of $33.17.