China’s Xi calls for stronger fintech oversight, security ...Middle East

BEIJING: A high-level Chinese government meeting led by President Xi Jinping has called for stronger oversight and better security in financial tech, state media reported, with the sector hit hard by a regulatory crackdown.The government action has pummelled some of China's biggest tech firms, wiping out hundreds of billions of dollars in market value since last year.But with the Chinese economy hammered by Covid lockdowns, the government has rolled out a series of support measures, including a call for “predictable” tech regulation.“Regarding large payment and fintech platform enterprises, Xi called for efforts to improve regulations, strengthen institutional weak links, ensure the security

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Last updated : 23 June 2022 clock 11:36 AM

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China’s Xi calls for stronger fintech oversight, security ...Middle East

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