China Keeps Regulatory Pressure on Tech Companies

China’s Central Bank Governor Yi Gang said they were determined to prevent monopolistic behavior of tech companies and to protect consumer privacy and security.

Yi said at a Central Bank meeting that they would work closely with anti-monopoly authorities to block tech firms’ tendency to create dominance in the market.

The Central Bank Governor also stated that China would enforce regulations that require tech firms that deal with financial business to establish financial holding companies.

China’s recent wave of regulations, particularly against big tech companies, has created a new and frustrating environment for firms to operate in.

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