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  • Beijing Review

    Fintech Supervision

    Jan 07, 2021 4 minutes
    By Wang Jun
    Copyedited by Madhusudan Chaubey

    Innovation in financial technology (fintech) has made life easier, but how about potential risks? China’s banking and financial authorities’ regulatory talks with Ant Group, the fintech affiliate of e-commerce giant Alibaba, at the end of last year were evidence of the government’s concern.

    The meeting was attended by officials from the People’s Bank of China (PBC), the China Banking and Insurance Regulatory Commission (CBIRC), the China Securities Regulatory Commission and the State Administration of Foreign Exchange.

    In a press release, PBC Deputy Governor Pan Gongsheng said the regulatory talks with Ant Group were mainly aimed at urging the firm

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