News Snapshot:
BEIJING – China will strengthen supervision of the online payments industry and continue its anti-monopoly crackdown, the governor of the central bank said, indicating Beijing will press ahead with a regulatory crackdown on the country’s technology giants. Authorities have for about a year targeted a range of home-grown tech behemoths, including e-commerce titan Alibaba and food delivery giant Meituan, for alleged monopolistic practices and aggressive harvesting of consumer data. The drive is part of a wider policy by the government to tighten its grip on the world’s No. 2 economy, including targeting private education, property and casinos. “We will continue...
