No let-up in China’s aim to curb tech monopolies, says central bank governor

Reuters Beijing | Updated on October 11, 2021

Will strengthen protection of consumer privacy and data security

China will continue to curb monopolistic behaviours of internet platform companies and strengthen the protection of consumer privacy and data security, central bank governor Yi Gang said.

China crackdown makes Hong Kong index world’s biggest tech loser

The central bank will work with anti-monopoly authorities to prevent firms from abusing dominant market positions and actively deal with new monopoly problems, Yi said at a meeting of the Bank for International Settlements on Thursday.

China tech crackdown is India’s gain, venture investor says

China will implement regulations that require platform companies engaged in financial business to establish financial holding companies, according to Yi’s speech published on the central bank’s website.

China has launched a regulatory crackdown on a broad rangeof industries, leaving startups and decades-old firms alikeoperating in a new, uncertain environment.

Published on October 11, 2021

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