With Jack Ma’s Ant Group reined in, China’s central bank sets sights on other fintech firms’ monopolistic behaviour

//With Jack Ma’s Ant Group reined in, China’s central bank sets sights on other fintech firms’ monopolistic behaviour

With Jack Ma’s Ant Group reined in, China’s central bank sets sights on other fintech firms’ monopolistic behaviour

The People’s Bank of China (PBOC) will continue to crack down on mainland payment companies’ practices that fall afoul of the country’s anti-monopoly law, with a senior central bank official pointing out that billionaire Jack Ma’s Ant Group was not singled out for such behaviour.“Ant Group is not the only company that engages in monopolistic behaviour, while in fact there are other payment companies in China with similar misconduct issues,” Fan Yifei, deputy governor of PBOC, said during a…

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By | 2021-07-08T10:30:17+00:00 July 8th, 2021|Business|Comments Off on With Jack Ma’s Ant Group reined in, China’s central bank sets sights on other fintech firms’ monopolistic behaviour