post Alibaba, a Chinese Fintech crackdown

acting allegedly due to the risk of creating monopolies, new antitrust rules have been promulgated by Beijing. Most telling quote from the article: “Special attention must be paid to the new risks brought about by the digital transformation [of financial services].” About a two minute read.

Comment: The Chinese are clearly thinking ahead here, and will avoid the accidental creation of a Digital Banking giant close to monopolist. Imagine an Digital Banking institution with the reach of Facebook — Chinese regulators clearly have and are saying no.