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Xi signals a fresh start for fintech industry

July 4, 2022
Source: scmp.com scmp.com
News Snapshot:
Online platforms for mobile payments and financial technology will play a big role in boosting the economy, President Xi Jinping has declared. This is the most positive signal for the revival of Big Tech after almost two years of crackdowns and regulatory scrutiny of the fintech industry. The latest statement follows an earlier pledge to support the healthy development of the online services sector. In addition, those platforms are expected to help enhance the security of their industry’s infrastructure and prevent systemic financial risks. The official statements likely mark the end of the harsh industry reforms imposed by the central...
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Tags: capital | China | development | Economy | expansion | finance | financial | fintech | Giant | government | infrastructure | initial public offering | international | ipo | IT | management | mobile | online | president | Reliance | Security | Signal | South China Morning Post | technology | Xi Jinping

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