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China looking to boost oversight of fintech behemoths Verdict Staff December 2, 2020 (Last Updated December 2nd, 2020 11:49) Share Article The China Banking and Insurance Regulatory Commission (CBIRC) and the People’s Bank of China (PBoC), the country’s central bank, are reportedly planning to impose “special and innovative regulatory measures†on fintech giants. The move, which is aimed at eliminating monopolistic practices and bolstering risk controls, comes after China slammed brakes on Ant Group’s $37bn listing last month. In an article, CBIRC chairman and PBoC party secretary Guo Shuqing outlined regulations for over the next five years, Bloomberg reported citing...
