• Bloomberg

  • SHARE

In a four-year campaign to root out risks to China’s financial system, regulators have set upon their biggest target yet: the world’s largest financial technology sector.

All three financial watchdogs have made it their primary goal this year to curb the “reckless” push of technology firms into finance, taking aim at a sector where loose oversight fueled breakneck growth for companies such as Ant Group Co. and Tencent Holdings Ltd.’s Wechat Pay. They have the green-light from President Xi Jinping, who in November called on regulators to “dare to” master their supervisory role.

Unable to view this article?

This could be due to a conflict with your ad-blocking or security software.

Please add japantimes.co.jp and piano.io to your list of allowed sites.

If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.

We humbly apologize for the inconvenience.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW

PHOTO GALLERY (CLICK TO ENLARGE)