China could restrict bank tie-ups with fintech firms, official suggests

China ࢀ˜s former finance minister Lou Jiwei suggested that China could restrict the number of bank s a single fintech platform can partner with, to prevent any platform from gaining too much market share, state media reported on Sunday. China ࢀ™s regulators last month warned the countryࢀ™s tech giants that they face closer scrutiny. A planned $37 billion stock listing of Alibabaࢀ™s Ant Group, scheduled to be the worldࢀ™s largest, was then abruptly suspended. Speaking at a wealth management forum on Saturday, Lou, who remains influential as the external affairs director at a top advisory body to the Chinese government,…