No relaxation in China’s goal of reducing technology monopolies, says central bank governor

China will continue to fight the monopoly behavior of internet platform companies and strengthen consumer privacy and data security, said central bank governor Yi Gang.

China crackdown makes Hong Kong index world’s biggest tech loser

The central bank will work with anti-monopoly authorities to prevent companies from abusing dominant market positions and actively address emerging monopoly issues, Yi said at a meeting of the Bank for International Settlements on Thursday.

China’s tech crackdown is India’s gain, venture capitalist says

According to Yi’s speech posted on the central bank’s website, China will implement regulations requiring platform companies engaged in financial activities to establish financial holding companies.

China has launched a regulatory crackdown on a wide range of industries, leaving startups and decades-old businesses to operate in a new uncertain environment.

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