China’s regulator clamps down harder on fintech, orders 13 tech giants to follow rules

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Chinese financial authorities summoned 13 fintech platforms on Thursday, urging them to correct malpractices, including operating businesses without proper licenses, unfair competition, and violation of consumer rights, according to a post on the website of the People’s Bank of China. Tencent, ByteDance, Douxiaoman, which is an affiliate of Baidu, 360 DigiTech, Tianxing, and JD Finance are among the companies. The…
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