News Snapshot:
China has made continuous efforts on shoring up weak links in the financial regulatory system in the face of new challenges posed by financial technology, Yi Gang, governor of the People's Bank of China, has said. Proper firewalls should be set up to forestall the cross-sector and cross-industry transmission of financial risks, Yi said in a video speech at a recent conference of the Bank for International Settlements on regulating big tech. He also urged disconnecting improper links between financial information and business information to prevent monopoly in the closed loop of data, network and financial activities. In recent years,...
