BEIJING (Reuters) – China will step up the supervision of large payment firms to ward off systemic financial risks and to support platform companies in servicing the real economy, state TV reported on Wednesday, citing a top meeting chaired by President Xi Jinping.
China will include payment services and any other financial activities by platform firms in its regulatory framework, China Central Television said, adding that it was necessary to strengthen the supervision of financial holding firms and that of platform firms participating in financial activities
(Reporting by Beijing Newsroom; Editing by Edmund Blair)
