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China to Tighten Controls over Fintech: China News

CHINA PRESS
MNI (Singapore)

China showed its resolve to tighten the supervision of fintech activities and limit their operations to the legal scopes, China News Service said in a commentary on its WeChat account after the People's Bank of China and three other top financial regulators this week summoned 13 tech firms including Tencent and ByteDance. The move, which came 17 days after the Ant Group was called in by the regulators, further reminded financial business to focus on serving the real economy and consumers and keep their financial risks in check, China News said.

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