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China Steps Up Regulations on Fin-Tech Firms: Times

CHINA PRESS
MNI (Sydney)

Chinese regulators have increased measures to supervise fin-tech companies in an effort to prevent risks, the Securities Times reported in its WeChat social media account. The PBOC and three other financial regulators on Monday summoned Jack Ma and two other executives of Ant Group for talks over regulations. After the meeting, the company said it would accept supervision, the Times said. Online micro loan lenders would also begin to face stricter supervision and must now seek approvals to conduct lending business across provinces, the Times report said.

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com

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