Chinese Financial Watchdogs to Talk Regulation With Ant Group(Yicai Global) Dec. 24 -- China's central bank and three other financial regulators will hold regulatory talks with Ant Group within the next few days.
The People's Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission and the State Administration of Foreign Exchange will carry out the discussions with the affiliate of tech titan Alibaba Group Holding. Ant is the world’s largest fintech company.
The agencies are expected to urge and guide the group to abide by market-driven, law-based principles, implement financial oversight requirements, compete fairly, protect consumers' rights and interests and regulate the operation and development of its financial businesses.
Editor: Ben Armour
