BUSINESS China's financial watchdogs hold regulatory talks with internet platform firms

BUSINESS

China's financial watchdogs hold regulatory talks with internet platform firms

Xinhua

07:18, April 30, 2021

File photo: CGTN

China's financial regulators on Thursday summoned 13 domestic internet platform companies including Tencent, JD Finance and ByteDance for talks on their financing businesses.

The People's Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, and the State Administration of Foreign Exchange initiated the regulatory talks.

The talks show China is stepping up its supervision of internet platform companies' financing businesses, strengthening its anti-monopoly efforts, and preventing the disorderly expansion of capital to promote the regulated, healthy and sustainable development of the platform economy.

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