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

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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