Technology

Chinese regulators summon internet finance firms

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FILE PHOTO: FILE PHOTO: A Tencent logo is seen at its booth at the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing

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BEIJING (Reuters) – Chinese financial regulators on Thursday summoned 13 internet platforms engaged in financial business, including heavyweights Tencent and ByteDance, to order them to strengthen their regulatory compliance, the central bank said.

The move by the four regulators is part of efforts by authorities to rein in the country’s massive internet “platform economy,” which also includes an ongoing antitrust clampdown.

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