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Chinese regulators imposed wide-ranging restrictions on the fast-growing financial divisions of 13 companies including Tencent Holdings Ltd and ByteDance Ltd, levelling many of the same curbs employed against Jack Ma’s Ant Group Co in a crackdown on the tech sector.
Rakuten Group is gaining ground on traditional banks, while banks are pushing back by launching their own digital services.
HANOI: The Covid-19 pandemic is signficantly changing the landscape of the consumer credit market as consumers tend to tighten their budget and pay more attention to healthcare, environment and lifestyle as well as switching to online shopping.
The State Administration of Market Regulation was formed just three years ago. The government agency has become one of the most powerful forces in China’s crackdown on Internet giants.
HONG KONG: Tencent Holdings Ltd raised $4.15 billion on Friday in its second major bond deal in less than a year as global investors were enticed by its attractive pricing and overlooked a regulatory crackdown on China's tech giants.
Google broke Australian law by misleading users about personal location data collected through Android mobile devices, a judge found on April 16.
BEIJING (Reuters) - A dozen Chinese Internet platform companies pledged to avoid anti-competitive behaviors such as forcing vendors to use their platform exclusively, according to a statement on Wednesday from the State Administration for Market Regulation.
SHANGHAI (China Daily/ANN): Tencent Holdings Ltd head Pony Ma said he will cooperate with antitrust regulators as big technology companies in China are facing intense scrutiny for monopolistic behavior that could stifle innovation.
China proposed establishing a joint venture with its tech giants to oversee the data collected from hundreds of millions of consumers, say sources.
China’s government has proposed establishing a joint venture with local technology giants that would oversee the lucrative data they collect from hundreds of millions of consumers, according to people familiar with the matter.