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Xi Jingping approves development for a ‘healthy’ Chinese fintech space

June 24, 2022
Source: paymentexpert.com paymentexpert.com
News Snapshot:
Xi Jinping, China’s President, headed a meeting last Wednesday approving development plans for a ‘healthy’ fintech sector. The meeting, centred around the commission for deepening overall reform, backed enhancing regulations for various major payment platforms. China Central Television also reported that the country will be adding companies on their shortlist to encourage them to return to their fintech origins. China was previously hesitant on backing domestic fintech firms such as Ant Group, with state authorities pulling the plug on the firm’s IPO due to its founder Jack Ma speaking on how financial watchdogs were ‘stifling innovation’ to the sector. But...
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Tags: Alibaba | Ant Group | bank | China | China Central Television | Chinese | commission | credit | development | finance | financial | fintech | Founder | government | infrastructure | ipo | Jack Ma | Liu He | online payment | payment | platform | president | technology | television | Xi Jinping

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