China is getting a grip on its financial centre before it's too late.
China should consider further tightening control over fintech giants by restricting the number of banks they can partner with, the Securities Times cited a former finance minister as saying.
Lou said China needs to prevent a “winner-takes-all” and “too-big-to-fail” situation in fintech, according to the report. He joined a chorus of voices from the nation’s top financial regulators vowing to step up oversight over the industry’s giants. Authorities last month published draft rules overhauling the nation’s microlenders, which led to the abrupt halt to Ant Group Co.’s $35 billion initial public offering in Hong Kong and Shanghai.
China Ex-Minister Sees Curbing of Fintech, Bank Tie-Ups: Report Bloomberg News
1 comment:
This type of lockdown thing is actually working to support their continuing USD zombieism....it’s working against the broader acceptance of CNY by retarding CNY exchange ...
In contrast the US policy is not (so far) been hostile to Fintech and the cryptos ....
Post a Comment