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.