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Beijing summons online financial platforms and warns over unfair market practices

Summary:
[unable to retrieve full-text content]China’s top financial regulators have summoned 13 of the country’s technology companies that run online financial businesses, including Tencent Holdings and Tik Tok-owner ByteDance, and told them to step up anti-monopoly measures and to halt “the disorderly expansion of capital”.The People’s Bank of China (PBOC), the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, and the State Administration of Foreign Exchange talked as one with the tech-run…

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[unable to retrieve full-text content]
China’s top financial regulators have summoned 13 of the country’s technology companies that run online financial businesses, including Tencent Holdings and Tik Tok-owner ByteDance, and told them to step up anti-monopoly measures and to halt “the disorderly expansion of capital”.The People’s Bank of China (PBOC), the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, and the State Administration of Foreign Exchange talked as one with the tech-run…

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