Business Standard

China will continue curbing tech monopolies: Central bank chief


China will continue to curb monopolist­ic behaviours of internet platform companies and strengthen the protection of consumer privacy and data security, central bank governor Yi Gang said. The central bank will work with anti-monopoly authoritie­s to prevent firms from abusing dominant market positions and actively deal with new monopoly problems, Yi said. China will implement regulation­s that require platform companies engaged in financial business to establish financial holding companies, according to Yi’s speech published on the central bank’s website. China has launched a regulatory crackdown on a broad range of industries.

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