RETAIL BANKING | Staff Reporter, China

China not targeting private sector with antitrust rules: CBIRC

Regulators are still supportive of banks and insurers working with online platforms.

China’s recent antitrust measures are not aimed at its private sector and do not seek to hinder its development as the country looks to expand scrutiny of the fintech space, reports Reuters.

Regulators are still supportive of banks and insurers cooperating with internet platforms, said China Banking and Insurance Regulatory Commission vice chairman Liang Tao.

Financial regulators have recently talked with a few internet platform firms including Ant, Liang said, with some taking a positive attitude towards the changes sought.

The central bank has also said it asked Ant to ensure the quality of financial services to the public as it works on rectifying its business.

Here’s more from Reuters.

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