Chinese President Xi Jinping said mobile payments and fintech platforms should “return to their roots”, which is a veiled reference to refrain from disorderly expansion and anticompetitive behaviour. Photo: Shutterstock
Chinese President Xi Jinping said mobile payments and fintech platforms should “return to their roots”, which is a veiled reference to refrain from disorderly expansion and anticompetitive behaviour. Photo: Shutterstock

China’s payments, fintech sectors to ‘play bigger role’ in boosting economy, President Xi says, in positive signal for Big Tech

  • The country’s payments and fintech platforms are expected to help ‘ensure security’ of their industry’s infrastructure and ‘prevent systemic financial risks’
  • The latest initiative by Beijing follows up on its earlier pledge to support the ‘healthy development’ of the online services sector

Chinese President Xi Jinping said mobile payments and fintech platforms should “return to their roots”, which is a veiled reference to refrain from disorderly expansion and anticompetitive behaviour. Photo: Shutterstock
Chinese President Xi Jinping said mobile payments and fintech platforms should “return to their roots”, which is a veiled reference to refrain from disorderly expansion and anticompetitive behaviour. Photo: Shutterstock
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