Why China’s central bank leads antitrust drive and how this may affect Alipay, WeChat Pay

//Why China’s central bank leads antitrust drive and how this may affect Alipay, WeChat Pay

Why China’s central bank leads antitrust drive and how this may affect Alipay, WeChat Pay

The People’s Bank of China (PBOC), the country’s central bank, has never been a major driver of domestic antitrust measures; its tasks involve carrying out monetary policy and regulating financial institutions. It has had no public record of being involved in any antitrust lawsuit or investigation since the country’s antitrust law came into effect in August 2008.The PBOC, however, is now flexing its regulatory muscle, putting “nonbank payment institutions” on notice that it could wield…

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By | 2021-01-22T12:00:23+00:00 January 22nd, 2021|Business|Comments Off on Why China’s central bank leads antitrust drive and how this may affect Alipay, WeChat Pay