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China’s Central Bank Governor Says Fintech Crackdown to Continue

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China’s Central Bank Governor Says Fintech Crackdown to Continue
Paramilitary police patrol in front of the People's Bank of China in Beijing on July 8, 2015. Greg Baker/AFP/Getty Images
By Rita Li
10/11/2021Updated: 10/11/2021

China’s central bank vowed to keep its eye on monopolistic behaviors and consumer data security matters occurring on internet platforms. The move—claimed by regulators to be for fair competition—was to tap the wealth, said an observer.

Governor of the People’s Bank of China Yi Gang addressed a meeting Oct. 7 saying the bank will work with anti-monopoly authorities to prevent firms from abusing dominant market positions, according to an Oct. 9 release.
Rita Li
Rita Li
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Rita Li is a reporter with The Epoch Times, focusing on U.S. and China-related topics. She began writing for the Chinese-language edition in 2018.
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