HONG KONG – Chinese financial regulators have summoned 13 companies engaged in online finance services, including Tencent and Bytedance, and told them to strengthen anti-monopoly measures.
The regulators, which include the People’s Bank of China (PBOC) and China’s securities and banking regulators, said in a statement Thursday that they had summoned companies including Xiaomi’s fintech arm; Tencent; Bytedance; e-commerce platform JD.com’s JD Finance, and the finance arm of food delivery platform Meituan.
Regulators warned against the “disorderly expansion” of capital, part of the government's increased scrutiny of technology and internet companies that have branched into the lucrative financial services sector, offering services such as