A reported comeback of Beijing-led regulatory crackdowns on Jack Ma’s Ant Group has sounded alarm bells for China’s fintech sector. Ant, the payment affiliate of Alibaba Group, is facing more state intrusion with Beijing asking banks and state-owned enterprises to conduct a fresh round of checks of their financial exposure and other links with the group up to January, Bloomberg first reported on Monday, citing sources close to the matter. This latest move has again got investors monitoring the Chinese state’s sweeping scrutiny of the country’s tech sector, which echoes a wider crackdown conducted last year across an array of sectors such as entertainment, education, and gaming. Following Beijing’s renewed emphasis on “common prosperity”—a slogan the communists have touted is the end goal of socialism—the year-long clampdown has drawn an end to the success stories of some decades-old firms, while Alibaba has lost almost half of its market value in a …