Guo Shuqing, chairman of the China Banking Regulatory Commission, said the government is plugging regulatory loopholes to protect consumers and prevent data leak and abuse. Photo: Bloomberg
Guo Shuqing, chairman of the China Banking Regulatory Commission, said the government is plugging regulatory loopholes to protect consumers and prevent data leak and abuse. Photo: Bloomberg

China going after Big Tech’s monopoly in financial data to curb abuses and protect privacy, says regulator

  • CBIRC flags upcoming rules to curb Big Tech’s use of data in financial services
  • Some 27 million micro and small enterprises had taken out bank loans at the end of October, CBIRC says

Guo Shuqing, chairman of the China Banking Regulatory Commission, said the government is plugging regulatory loopholes to protect consumers and prevent data leak and abuse. Photo: Bloomberg
Guo Shuqing, chairman of the China Banking Regulatory Commission, said the government is plugging regulatory loopholes to protect consumers and prevent data leak and abuse. Photo: Bloomberg
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