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
Business /  Banking & Finance

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

Alison Tudor-Ackroyd
Alison Tudor-Ackroyd

Updated: 12:08am, 9 Dec, 2020

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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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