China's regulators summon 13 internet firms engaging in finance

CGTN

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China unveiled antitrust guidelines for the platform economy on February 7, 2021. /CFP

Chinese financial regulators on Thursday summoned 13 internet companies engaging in financial business, in efforts to strengthen anti-trust, prevent disorderly expansion of capital and promote healthy development of the platform economy.

This is the latest move since China took serious actions against monopolistic practices, especially of internet companies, last year. The authorities were led by the People's Bank of China, China Banking Regulatory Commission, China Securities Regulatory Commission, and State Administration of Foreign Exchange.

The 13 companies summoned include Tencent, ByteDance and Lufax, as well as Duxiaoman Finance, JD Finance, and Didi Finance, which are financial arms of search engine firm Baidu, e-commerce platform JD.com and ride-hailing platform Didi Chuxing.